Loan Prepayment Calculator: Save Interest & Cut Tenure
See how much interest a single part-prepayment saves and how many months it cuts from your loan.
Loan & Prepayment Details
Total Interest Saved
Total Interest Saved: ₹7,34,486
- Tenure Reduced By
- 43 months (3.6 years)
- New Total Interest
- ₹19,72,453
Why Prepayment Saves So Much
Every rupee you prepay comes straight off the principal, so every later instalment carries less interest.
Prepayment Charges & RBI Regulations
Under Reserve Bank of India (RBI) regulations, banks and NBFCs cannot charge foreclosure or prepayment penalties on floating-rate home loans granted to individual borrowers. Prepaying even ₹2 lakh on a ₹25 lakh loan at 8.5% with 20 years remaining saves roughly ₹7.34 lakh in interest and closes the loan 43 months sooner.
Frequently Asked Questions
Should I reduce EMI or reduce tenure after prepayment?
Is there a penalty for prepaying a home loan?
When is the best time to prepay?
How do I track multiple loans and prepayments?
Explore More Free Calculators
35+ Financial Calculators in One Free Android App
Loan comparison, prepayment savings, SIP, FD, PPF, GST and income tax. Works 100% offline, needs no login, and reminds you when an EMI is due.
- Works Offline
- No Login Required
- EMI Reminders
Free download for Android
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