Loan Prepayment Calculator
How much interest and time you save by prepaying your loan.
Result
How to use
- 1
Enter the outstanding amount, interest rate and remaining tenure.
- 2
Add a one-time prepayment, an extra monthly amount, or both.
- 3
See the interest saved and how much earlier the loan closes.
Questions
Should I reduce EMI or tenure after prepaying?
Keeping the EMI the same and reducing the tenure usually saves the most interest. This calculator assumes that option.
Are there prepayment charges?
For floating-rate home loans taken by individuals, banks generally do not charge prepayment penalties. Fixed-rate and other loans may have charges — check with your lender.
About this Prepayment tool
Loan Prepayment Calculator — How much interest and time you save by prepaying your loan. It is one of 200 free tools on namasivayam.in, made by software engineer Namasivayam Vadivelan for everyday use in India.
Everything is calculated instantly in your browser: nothing you type or upload is sent to any server, there is no sign-up, and it works on mobile and desktop. Enter the outstanding amount, interest rate and remaining tenure.
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Results are estimates to help you plan. They are not financial, tax or medical advice.