Loan prepayment calculator
Pay a lump sum or a bit extra every month, and see the interest and years you save.
Runs entirely in your browser. Nothing you type is sent anywhere.
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%
years
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months
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After the one-time prepayment
Interest saved—
- Original EMI
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- EMI after prepayment
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- Loan finishes
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- Interest without prepaying
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- Interest with prepaying
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Lenders may charge for prepayment on some loans, and some only accept part payments at set times. Check your loan agreement.
How to use the loan prepayment calculator
Interest is charged monthly on the remaining balance at the yearly rate ÷ 12. A prepayment goes straight to the balance, so every later month charges less interest. “Keep EMI” uses the savings to finish sooner; “keep tenure” recalculates a lower EMI for the remaining months. Extra monthly amounts always shorten the loan.
- Enter the loan amount, rate and tenure.
- Enter a one-time prepayment and when you’ll make it, or an extra monthly amount, or both.
- Choose whether to finish sooner or lower the EMI.
- Drag “made after” to see how much earlier prepayments save.
Questions
Is it better to reduce the tenure or the EMI?
Reducing the tenure saves more interest, because the balance falls faster. Reducing the EMI eases the monthly budget. The calculator shows both.
Why does prepaying early save more?
Early in a loan most of each EMI is interest on a large balance. Cutting the balance then removes years of interest on that amount.
Why are there sliders under every box?
So you can see cause and effect. Drag the rate, time or amount and the result, chart and comparison update as you move. Type in the box when you need an exact figure.
Is this calculation exact?
It uses the standard formula. Banks and fund houses may round differently, charge fees or deduct tax, so treat the result as a close estimate and confirm with them.