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About this tool
Find the interest saved and tenure cut when you make a lump-sum prepayment or pay extra with every EMI.
Home Loan Prepayment Calculator amortises your loan month by month, once without prepayments and once with them, so you can see exactly how much interest a bonus or a small monthly top-up saves. It works out your EMI from the outstanding amount, rate and remaining tenure, then applies a lump sum in any month plus any extra you add to every EMI. The result: interest avoided, the new payoff date and how many months you cut.
Open Home Loan Prepayment Calculator on AltFTool — it loads instantly in your browser.
Enter the values you already know.
Fine-tune the options to match your scenario.
Read the result and use it in your planning or reporting.
Every month's interest is computed on the actual falling balance, not a shortcut formula.
Model a one-time prepayment, a recurring top-up, or both together in one schedule.
Keeps the EMI fixed and reports the months saved, the option that saves the most interest.
Reducing the tenure while keeping the EMI unchanged saves substantially more interest, because the balance falls faster. Lowering the EMI eases monthly cash flow instead. This calculator models tenure reduction.
RBI does not allow banks and HFCs to levy foreclosure or prepayment charges on floating-rate loans sanctioned to individual borrowers for non-business purposes. Fixed-rate loans and business loans can still carry a charge, so check your sanction letter.
In the early years, when almost the whole EMI is interest. The same rupee prepaid in year 2 removes far more future interest than in year 12, which you can verify by changing the lump sum month here.
A smaller balance means less interest, so the deduction you can claim on home loan interest under Section 24(b) — up to Rs 2 lakh a year for a self-occupied house under the old regime — falls too. Weigh the post-tax saving; this is informational, not tax advice.
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