Loan Prepayment Calculator
Calculate interest saved and tenure reduction by prepaying your loan.
Disclaimer
Calculation assumes prepayment reduces tenure. Some banks may allow reducing EMI instead. Check your loan agreement.
Loan Prepayment Benefits
Understand how much interest and time you can save by prepaying your loan.
Interest Savings
Total interest you can save with prepayment
Tenure Reduction
How many months/years you can reduce the loan tenure
New Maturity Date
Your loan will be paid off earlier
Total Cost Comparison
Original vs new total payment amount
Pro Tips
- Prepayment reduces the outstanding principal amount
- Less principal means less interest charged in future months
- Both tenure and EMI can be reduced (check with bank)
- Prepay when loan interest rate > your investment returns
Important Notes
• Some banks charge prepayment penalty (usually 1-3% of outstanding amount)
• Check your loan agreement for prepayment clause
• If EMI is reduced: Monthly payment decreases, tenure remains same
• If tenure is reduced: Monthly payment stays same, loan ends early
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