Loan Prepayment Calculator

See how much you can save by paying just a little extra each month.

₹
₹

Original Monthly EMI

₹ 0

Your Potential Savings

Total Interest Saved

₹ 0

Months Saved

0

New Tenure

0 Yrs

Original Interest Payable: ₹ 0
New Interest Payable: ₹ 0

Prepaying a small amount every month can drastically reduce the interest burden over the long term. This calculator uses standard monthly reducing balance method.

How To Use Loan Prepayment Calculator?

1

Input Loan Details

Enter your original loan amount, the annual interest rate, and the total tenure in years.

2

Add Extra Payment

Enter the additional amount you plan to pay every month towards your principal balance.

3

Analyze Savings

See the total interest saved and how many months earlier you will be debt-free.

Key Features

Interest Savings

Visualize the massive amount of money saved from going to the bank's interest income.

Tenure Reduction

See exactly how much time you cut off your loan period through consistent prepayments.

No Data Storage

Your financial data stays on your device. We do not store or track your loan information.

Frequently Asked Questions

Should I prepay my loan?
Prepaying is generally wise if the interest rate on your loan is higher than what you would earn from investing that same amount.
How does prepayment work?
Extra payments are applied directly to the principal balance, which reduces the amount interest is calculated on for all future months.
Are there prepayment penalties?
Some banks charge a fee for early repayment on fixed-rate loans. Most floating-rate home loans do not have these penalties.