Tools
Loan Prepayment Calculator
See the power of paying a little extra. Add an amount each month to find out how much interest and time you save.
₹10,00,000
9%
10 yr
₹5,000
Interest you save
₹2,13,655
- Original EMI
- ₹12,668
- Original total interest
- ₹5,20,109
- New tenure
- 6 yr 2 mo
- Time saved
- 3 yr 10 mo
Indicative only. Paying a little extra every month cuts both your tenure and total interest. Check your lender’s prepayment rules and any charges.
FAQ
Frequently asked questions
Paying extra reduces your outstanding principal faster, so less interest accrues. Over the life of the loan this can save a large amount and finish the loan early.
Keeping the EMI the same and reducing tenure usually saves the most interest. This calculator shows the time and interest saved when you add an extra amount each month.
Floating-rate retail loans usually have no prepayment penalty, but fixed-rate or business loans may. Check your loan agreement before prepaying.
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