With vs without prepayment
Loan Prepayment Calculator
See how part-prepayments change your remaining tenure, your EMI and the total interest you pay.
Your Loan Today
Calculated from the outstanding principal, rate and remaining tenure.
EMIs still to be paid
Prepayment plan
Month 1 = your next EMI. Earlier prepayments usually save more interest.
Prepayment charges
Prepayment charges depend on the loan type, lender and applicable regulations. Certain floating-rate loans to individual borrowers may have exemptions from prepayment charges under applicable RBI rules. Verify the current terms with your lender. This calculator does not include any prepayment charges.
Effect of prepayment
Loan closes 4 yrs earlier
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Interest saved
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- New tenure
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- Total prepaid
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Interest saved is the reduction in interest payable on this loan. It is not an investment return.
Status quo
Without Prepayment
- Remaining tenure
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- EMI
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- Total interest
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- Total payments
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Last EMI
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With plan
With Prepayment
- Tenure
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- EMI
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- Total interest
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- Total payments (incl. prepaid)
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Last EMI
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Total interest comparison
—Outstanding Balance Over Time
Principal still owed each month, with and without your prepayment plan.
Things to Consider
Timing matters
In the early years of a long loan, a large share of each EMI goes to interest. A prepayment made earlier reduces the balance on which interest is charged for longer, so it usually saves more. Change the EMI month above to compare.
Reduce tenure or EMI?
Keeping the EMI and shortening the tenure generally reduces total interest more. Lowering the EMI eases your monthly budget instead. Lenders may allow one or both options — check with yours.
Prepaying vs keeping funds
Money used to prepay is no longer available for emergencies or other goals, and any tax benefits on the loan may change. Consider your liquidity and overall situation; a qualified adviser can help you decide.