Loan Prepayment Calculator
See how much interest a part-prepayment saves and how much sooner the loan ends.
- Is it better to reduce the EMI or the tenure when prepaying?
- Reducing the tenure saves far more interest, because you stop paying sooner. Reducing the EMI eases monthly cash flow but leaves the loan running for its full term. If you can sustain the current EMI, cut the tenure.
- Do lenders charge for prepaying a home loan?
- The RBI bars prepayment penalties on floating-rate home loans taken by individuals. Fixed-rate loans and most business loans may still carry a charge, so check your sanction letter.