Home Loan Prepayment Calculator

Planning to make prepayments on your home loan? Our calculator helps you understand how much you can save in interest payments by making prepayments.

Loan Amount (₹)

Interest Rate (%)

Loan Term (Months)

Loan Start Date

Prepayment Type

One Time Monthly

Prepayment Amount (₹)

Prepayment Start Date

Benefits of Home Loan Prepayment

Reduced Interest Burden

Making prepayments on your home loan can significantly reduce your interest burden and loan tenure. Understanding the impact of prepayment helps you make informed financial decisions.

Shorter Loan Tenure

Regular prepayments can help you become debt-free sooner by reducing your loan tenure, leading to substantial savings in interest payments.

Frequently Asked Questions

What is home loan prepayment?

Home loan prepayment refers to paying extra amounts towards your loan principal beyond your regular EMI. This helps reduce your outstanding principal and consequently, the interest you pay.

When should I consider prepayment?

Consider prepayment when you have surplus funds, receive a bonus, or get an increment. However, evaluate prepayment charges and tax benefits before making a decision.

How does prepayment affect my loan?

Prepayment reduces your loan principal, which leads to lower interest payments over the loan tenure. You can either choose to reduce your EMI amount or decrease your loan tenure.