Home loan
prepayment calculator
Free to use. No login. No phone number required.
Calculate your home loan EMI and see how extra payments reduce interest and loan tenure. Try a strategy. Then stack a few.
Already repaying a loan? Use your outstanding balance and remaining tenure below.
Your loan & EMI
Prepayment strategies
Stack them23 years 4 months
instead of 30 years
The road to zero
A projection, not a bank quote. Assumes a constant rate and monthly reducing balance. Prepayments shorten tenure, not your starting EMI.
When do you want to be debt-free?
A separate plan: your regular EMI, one extra EMI a year, and a yearly bonus payment. We'll work out how big that bonus payment needs to be.
Uses the loan details above. Independent of your manual strategy selections.
towards principal, each loan-year end
One extra EMI a year already meets this goal. No additional bonus payment is needed.
A plan is only useful if it fits your life. This is the bonus amount the maths needs, not a prediction of your bonus. Compare it with your take-home salary, expected bonus and emergency fund before committing.
How the numbers work +
Interest is calculated on the opening balance each month. Your EMI is paid first, then any extra payment goes towards principal. The final payment is capped at what you owe.
The monthly top-up and annual bonus are based on your original EMI. Step-up compounds once every 12 payments, starting with EMI 13. Annual extra payments happen after EMIs 12, 24, 36 and so on. A lump sum is applied after the EMI number you choose. Strategies combine in the same month. The goal planner is a separate scenario: it keeps your original EMI unchanged and solves a fixed yearly bonus top-up, plus one original extra EMI, paid at each loan-year end. The top-up is rounded up to the next rupee to meet your goal.
Use your current outstanding balance, remaining tenure and current rate for an existing loan. Rates, fees, tax benefits, lender rounding, payment dates and partial disbursals are not modelled. Your lender may apply different rules. No loan details leave this page.
How to use this home loan calculator
- Enter your loan amount, annual interest rate and tenure to calculate your monthly EMI. For an existing loan, use your current outstanding balance and remaining tenure.
- Compare monthly top-ups, extra EMIs each year, yearly EMI increases or a one-time lump sum. Combine them to estimate interest savings and a shorter loan tenure.
- Download the monthly repayment schedule as a CSV, or set a debt-free goal to work out the yearly bonus top-up it needs.
Home loan prepayment questions
Is this home loan calculator free?
Yes. The calculator, prepayment comparisons, goal planner and CSV schedule download are free. You do not need to log in, sign up or provide a phone number or email address to see your results.
Can I calculate my EMI without prepayments?
Yes. Enter your loan amount, interest rate and tenure to see your starting monthly EMI. Select "Clear all strategies" to view the repayment timeline and total interest without extra payments.
Does prepayment reduce my EMI or loan tenure?
This calculator applies extra payments towards principal and shortens the tenure, keeping your starting EMI unchanged unless you choose a yearly EMI increase. Check with your lender if you want to reduce your EMI instead.
Can I use it for an existing home loan?
Yes. Use the outstanding principal, current annual interest rate and remaining tenure, rather than your original loan amount and full tenure. It estimates a monthly EMI from these inputs; your bank's actual EMI may differ.
Are the results a bank quote?
No. These are estimates based on a constant interest rate and monthly reducing balance. Rate changes, fees, tax benefits, lender rounding, payment dates and partial disbursals are not included. Check your lender's terms before making a prepayment.