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Loan Pre-payment Calculator

See how much interest you can save by making extra lump-sum payments towards your loan.

Your Current Loan

₹
%
Years

Plan Extra Payment

Enter the extra lumpsum amount you want to pay

₹

Total Interest Saved!

₹ 0

Your Loan Will Finish Earlier By:

0 Years, 0 Months

If You DO NOT Pre-pay

Current EMI

₹ 29,542

Total Interest Paid to Bank

₹ 23,17,560
If You PRE-PAY Now

New EMI (assuming tenure remains)

₹ 24,618

OR keep EMI same to finish early

New Total Interest Paid

₹ 14,00,000

Frequently Asked Questions

Prepayment is paying off part or all of your loan before the scheduled tenure. Part prepayment reduces the outstanding principal, leading to lower EMI or shorter tenure. Full prepayment (foreclosure) closes the loan completely before its original end date.
For home loans with floating rates, RBI mandates no prepayment charges. For fixed-rate home loans, banks may charge 2-3%. Personal loans may have 2-5% charges in the first 1-2 years. Car loans typically have 2-4% foreclosure charges.
The earlier you prepay, the more you save on interest. In the first few years, most of your EMI goes towards interest. A part-prepayment in years 1-5 of a 20-year home loan can save lakhs in interest and reduce tenure significantly.
Reducing tenure saves more interest in the long run and is recommended if your cash flow is comfortable. Reducing EMI provides immediate relief in monthly outflow. For maximum savings, choose tenure reduction.
Significant amounts. For example, on a ₹50 lakh home loan at 8.5% for 20 years, a ₹5 lakh prepayment in the 3rd year can save ₹8-10 lakh in total interest and reduce tenure by 2-3 years. Use our calculator for exact figures.