See exactly how much interest and time you save with one-time or recurring prepayments.
Loan Details
Original Loan
%
yrs
Monthly EMI
—
Total Interest (original)
—
Prepayment Details
Extra Payment
mo
After Month 12 (Year 1)
paid every year from prepayment month onwards
One-time Prepayments
Savings Summary
Original EMI
—
New EMI
—
Original Interest
—
New Total Interest
—
Interest Saved
—
Time Saved
—
Frequently Asked Questions
Prepaying reduces your outstanding principal, which lowers the total interest you pay over the loan tenure. Even a single lump-sum prepayment early in the loan can save lakhs in interest.
Reducing tenure saves more interest overall because the loan is paid off faster. Reducing EMI lowers your monthly outflow but keeps the loan running longer, resulting in higher total interest paid.
Most banks allow multiple prepayments per year. This calculator supports up to 5 one-time prepayments at specific months plus an optional recurring annual prepayment.
RBI guidelines prohibit prepayment penalties on floating-rate home loans. Fixed-rate loans may carry a penalty (typically 1–2% of the prepaid amount), so check your loan agreement before making a prepayment.
The earlier in the loan tenure you prepay, the more interest you save — because interest is front-loaded in an EMI schedule. Prepaying in the first few years has a significantly larger impact than prepaying near the end.
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