Home Loan Prepayment Calculator
Compare your current home-loan schedule with a lump-sum or recurring monthly prepayment to estimate interest and tenure saved.
Use the outstanding principal—not the original sanctioned amount—and the remaining tenure. The calculator simulates the balance month by month while keeping the regular EMI unchanged.
Current Loan and Prepayment
Use the principal outstanding today and the remaining tenure, not the original sanction details.
Set either prepayment field to zero if it does not apply.
Estimate only. It assumes a constant rate, unchanged regular EMI, and immediate/recurring payments applied to principal. Confirm charges and the revised schedule with your lender.
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How the Home Loan Prepayment Calculator Works
Enter the Outstanding Balance
Use the principal currently due from your latest loan statement.
Add the Remaining Terms
Enter the present annual rate and remaining months or years.
Choose Extra Payments
Model an immediate lump sum, an extra monthly amount, or both.
Compare the Schedules
Review interest saved, months saved, and the estimated new payoff time.
Home Loan Prepayment Calculation
Monthly interest = opening balance × annual rate ÷ 12; closing balance = opening balance + interest − EMI − prepayment
The regular EMI is calculated from the outstanding balance, monthly rate, and remaining term. The tool then runs two reducing-balance schedules: one without extra payments and one after the immediate lump sum with the recurring monthly prepayment. Each month is simulated until the balance reaches zero.
Example Calculation
Input: ₹40 lakh outstanding, 8.5%, 15 years, ₹2 lakh now and ₹5,000 extra monthly
Output: The calculator compares the exact simulated payoff month and total interest with the unchanged original schedule.
Common Uses
- • Comparing a bonus-funded part payment
- • Testing one extra amount each month
- • Estimating an earlier payoff date
- • Comparing prepayment scenarios before contacting the lender
Questions about this calculator
Enter the outstanding principal shown on your latest statement. Also use the current interest rate and the tenure remaining today.
It keeps the regular EMI unchanged and applies extra payments to principal, so the estimated tenure becomes shorter. Ask your lender how it will process a part payment.
No. The estimate excludes prepayment charges, administrative fees, tax effects, rate changes, payment timing differences, and lender-specific rounding. Check your agreement and obtain a revised schedule from the lender.
Not automatically. The decision depends on liquidity, emergency savings, taxes, risk, loan rate, expected after-tax investment return, and personal goals. This tool only estimates the loan-side effect.
How a Home Loan Prepayment Saves Interest
Home-loan interest is calculated on the outstanding balance. An extra payment reduces that balance earlier, so future months accrue interest on a smaller amount. Keeping the EMI unchanged generally converts that saving into a shorter repayment period.
Use Current Loan Details
The most useful comparison starts with today's outstanding principal, current rate and remaining tenure. These can differ substantially from the original sanction details after several payments or rate resets.
Confirm the Result with Your Lender
This calculator is an educational estimate. Actual posting dates, daily or monthly interest methods, floating-rate changes, fees and lender instructions can alter the schedule. Confirm applicable terms and request a revised amortisation schedule after making a payment.
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Written & maintained by Aditya Singh
Aditya Singh is a software engineer and the founder of DevCalc, based in Uttar Pradesh, India. He builds and maintains every calculator on this site using documented formulas, worked examples, and clearly stated limitations, with careful attention to accuracy. Read more about the author →
This calculator and its guidance are for general educational purposes only and do not constitute financial, investment, or tax advice. Verify figures with a qualified professional before making financial decisions.