Loan Prepayment Calculator
See how much interest you can save and how much faster you can close your loan by making a one-time prepayment.
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How it works
Calculates the new amortization schedule after a principal prepayment and compares the total interest against the original schedule.
Common Questions
Does prepayment reduce EMI?
By default, banks reduce the loan tenure while keeping the EMI the same. However, you can request your bank to reduce the EMI instead.
Is there a limit on prepayment?
Most floating-rate home loans in India have zero prepayment charges. Fixed-rate loans might have charges.
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Disclaimer: These calculations are estimates based on standard financial formulas. Actual outcomes may vary due to taxes, market conditions, or policy changes. Consult a financial advisor for critical decisions.