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Loan prepayment calculator.
Paying a little more each month comes off the principal, so it cuts both the tenure and the interest. This shows how much of each.
₹
%
yrs
₹
₹
A bonus or maturity amount put straight against the principal. Early in a loan this does far more than later.
Interest you save
₹8.8 L
Clears the loan 5 yrs 10 mos early.
- Your EMI now
- ₹22,636
- Interest as it stands
- ₹23,89,470
- Interest if you pay extra
- ₹15,08,473
- Time saved
- 5 yrs 10 mos
How it adds up
- Interest, as things are₹23,89,470
- minusInterest if you pay extra₹15,08,473
- equalsInterest you save₹8,80,997
And the loan ends 5 yrs 10 mos sooner.
What this assumes
Assumes the extra goes to principal every month, that a one-off amount is paid today, and that the rate stays fixed. Check your lender does not charge a prepayment fee on fixed-rate loans.
Rules and rates from
- Reserve Bank of India (opens in a new tab)
- The reducing-balance EMI formula banks use
Education only, not investment, tax or legal advice. I am not a SEBI-registered investment adviser.
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