Loan Prepayment Calculator
Already have a loan? See how a one-time prepayment changes your numbers. Enter your current loan details and the prepayment amount and month. Choose to reduce EMI (same tenure) or reduce tenure (same EMI). The calculator shows interest saved and the new schedule.
Current loan
Prepayment
Month number when you make the prepayment (1-based).
Interest Savings
Prepayment benefit
₹ 2,18,105
saved in interest charges
- New EMI
- ₹ 25,157/month
Amortization schedule
Already have a loan? See how a one-time prepayment changes your numbers. Enter your current loan details and the prepayment amount and month. Choose to reduce EMI (same tenure) or reduce tenure (same EMI). The calculator shows interest saved and the new schedule.
When you prepay, the outstanding principal drops. In "reduce EMI" mode we recalculate the EMI for the same remaining tenure. In "reduce tenure" mode we keep your EMI and find how many months are needed to clear the new balance. Interest saved is the difference between original total interest and the new total interest paid.
What is prepayment?
Prepayment is paying more than your regular EMI—either a lump sum or extra amount—to reduce the outstanding principal.
Reduce EMI vs reduce tenure?
Reduce EMI: your tenure stays the same but each EMI becomes smaller. Reduce tenure: your EMI stays the same but you finish the loan earlier.
Do banks charge for prepayment?
Some lenders charge a prepayment fee or allow only partial prepayment. Check your loan agreement.
Trust & transparency
Trust & Transparency
Accurate Reducing Balance Calculation
This tool uses standard reducing balance formulas followed by banks and financial institutions.
No Data Storage
All inputs are processed instantly in your browser. We do not store or share financial information.
Clear Formula Explanation
Interest savings and tenure reduction are calculated based on revised principal and EMI formula adjustments.
Educational Purpose
Actual savings may vary depending on lender-specific rounding methods and prepayment charges.
Regular Review
This calculator is periodically reviewed for formula accuracy and financial reliability.