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Shravya Finlytics

Home loan prepayment calculator

See how many months a regular extra payment removes from a home loan, and how much interest it saves.

Paying a little extra every month, and what it takes off the loan.

1,00,000–10,00,00,000
₹
5–20
%
1–30
years
0–5,00,000
₹

Everything here is worked out in your browser. Nothing you type is sent to us or saved.

Interest saved

₹21,78,721

Loan ends sooner by

7 years 1 month

12 years 11 months instead of 20 years

EMI stays at

₹43,391

Plus your ₹10,000 extra

  • Interest you still pay₹32,35,158(60%)
  • Interest saved₹21,78,721(40%)
  • Principal
  • Interest
₹0₹2.0 L₹4.0 L13579111315171920
The original loan, year by year. The extra payment shortens the tail on the right. Hover or tab to a column to read its figures.
See the numbers
The original loan, year by year. The extra payment shortens the tail on the right.
YearPrincipalInterestTotal
1₹99,511₹4,21,182₹5,20,694
2₹1,08,307₹4,12,387₹5,20,694
3₹1,17,881₹4,02,813₹5,20,694
4₹1,28,300₹3,92,394₹5,20,694
5₹1,39,641₹3,81,053₹5,20,694
6₹1,51,984₹3,68,710₹5,20,694
7₹1,65,418₹3,55,276₹5,20,694
8₹1,80,039₹3,40,655₹5,20,694
9₹1,95,953₹3,24,741₹5,20,694
10₹2,13,274₹3,07,420₹5,20,694
11₹2,32,125₹2,88,569₹5,20,694
12₹2,52,643₹2,68,051₹5,20,694
13₹2,74,974₹2,45,720₹5,20,694
14₹2,99,279₹2,21,415₹5,20,694
15₹3,25,733₹1,94,961₹5,20,694
16₹3,54,525₹1,66,169₹5,20,694
17₹3,85,862₹1,34,832₹5,20,694
18₹4,19,968₹1,00,726₹5,20,694
19₹4,57,090₹63,604₹5,20,694
20₹4,97,492₹23,202₹5,20,694
  • The EMI stays the same and the loan ends earlier, which saves far more than lowering the EMI. Tell your bank which one you want.
  • The RBI does not allow foreclosure charges on a floating-rate home loan to an individual. Fixed-rate loans can carry them.
  • Clear costlier debt - a credit card or a personal loan - before prepaying a home loan.

Common questions

Should the tenure fall or the EMI?

Keeping the EMI and shortening the tenure saves far more interest, and that is what this calculates. Banks often default to lowering the EMI instead, so ask explicitly.

Is there a charge for prepaying?

On a floating-rate home loan to an individual, the RBI does not permit foreclosure charges. Fixed-rate loans and loans to businesses can carry them, so check your sanction letter.

Other calculators

This is general information for education, not investment, tax or legal advice. Rules and rates change; check the official source before acting. Read the full disclaimer.