Calculate how much you can save by prepaying your home loan
Our free home loan prepayment calculator helps you understand how much you can save on interest and reduce your loan tenure by making extra payments towards your home loan. Calculate interest savings, tenure reduction, and optimal prepayment strategies to become debt-free faster.
Perfect for homeowners, property investors, and financial planners who want to optimize their home loan repayment strategy and save thousands in interest charges through strategic prepayments.
Precisely calculate how much interest you can save and how many EMIs you can reduce through different prepayment scenarios and strategies.
Compare lump sum prepayments, regular extra payments, and combination strategies to find the most effective approach for your financial situation.
Factor in prepayment charges (typically 2-3% for fixed rate loans) to understand the true net savings and optimal timing for prepayments.
Compare the benefits of reducing loan tenure versus maintaining tenure with lower EMIs to choose the strategy that best fits your financial goals.
Save lakhs in interest payments and achieve financial freedom faster with strategic prepayment planning tailored to your home loan structure.
Savings depend on your loan amount, interest rate, and remaining tenure. Typically, prepaying ₹1 lakh in early years can save ₹2-3 lakhs in interest over the loan term. Our calculator provides precise savings based on your specific loan details.
Most banks charge 2-3% prepayment penalty on fixed rate loans, while floating rate loans typically have no charges after 1-3 years. Some banks allow limited free prepayments annually (usually up to 25% of outstanding loan).
Reducing tenure saves more interest as the principal reduces faster. Reducing EMI provides cash flow relief but costs more in long-term interest. Choose based on your financial priorities - maximum savings vs monthly budget flexibility.
The early years are most beneficial as interest component is highest. Prepaying in first 5-7 years maximizes savings. Also consider prepaying when you have surplus funds rather than keeping money in low-yield savings accounts.
Yes, most banks allow multiple partial prepayments subject to their terms. Some banks have minimum prepayment amounts (typically ₹25,000-₹50,000) and may limit the number of free prepayments per year.