Home Loan Prepayment Calculator
See what a prepayment does to your home loan. Enter the outstanding principal, rate and remaining tenure, then a one-time lump sum and/or an extra amount every month. Choose whether the bank shortens the tenure or lowers the EMI, and compare total interest both ways.
| Without prepayment | With prepayment | |
|---|---|---|
| EMI | ₹27,164 | ₹27,164 |
| Months to close | 216 | 154 |
| Total interest | ₹28,67,364 | ₹16,80,148 |
Reducing-balance simulation. “Cut the EMI” assumes the bank re-amortises the reduced balance over the same remaining term. Real prepayments may carry charges on fixed-rate loans (floating-rate home loans to individuals cannot be charged), and tax relief under Section 24(b) changes as interest falls. Nothing is uploaded.
How to use it
- Enter the current outstanding principal, interest rate and months or years left.
- Enter a one-time prepayment and when you'll make it, and/or an extra monthly amount.
- Pick 'cut the tenure' or 'cut the EMI'.
- Read the interest saved and the new payoff date or EMI.
FAQ
- Is prepaying always worth it?
- For a floating-rate home loan with no prepayment charge, prepaying early saves the most interest because early EMIs are mostly interest. Weigh it against keeping an emergency fund and against returns you'd get elsewhere after tax.
- Are there prepayment charges?
- Banks cannot levy prepayment or foreclosure charges on floating-rate home loans given to individuals (RBI rule). Fixed-rate loans and loans to non-individuals can carry a charge.
- Tenure reduction or EMI reduction?
- Reducing the tenure saves far more total interest. Reducing the EMI eases monthly cash flow but you pay for longer.
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Free to use, no sign-up. Calculations run in your browser — nothing you type is sent to a server. These tools are for general information only, not professional advice. See the full tool list.