Original home loan amount
Current home loan interest rate
Up to 30 years
Lump-sum amount paid
When prepayment is made
Interest Saved
Tenure Reduced
New Loan Completion
What is a Home Loan Prepayment Calculator?
A Home Loan Prepayment Calculator helps you understand how making a lump-sum payment towards your housing loan reduces total interest payable and shortens the loan tenure. Prepayment is especially beneficial in the early years of a home loan.
Benefits of Prepaying a Home Loan
- Significant interest savings over long tenure
- Faster loan closure
- Lower financial stress
- Improved credit score
Related Home Loan Tools
Frequently Asked Questions
Does prepayment reduce EMI or tenure?
Most banks keep EMI constant and reduce the loan tenure after prepayment.
Is there any prepayment penalty on home loans?
Most floating-rate home loans in India do not have prepayment charges.
When is the best time to prepay a home loan?
Prepaying during the early years of the loan gives maximum interest savings.
Is this prepayment calculator accurate?
Yes. It uses standard EMI and amortization formulas followed by banks.