Home Loan Overdraft Calculator
Interest saved by parking money in an overdraft-linked home loan such as SBI MaxGain, compared with a regular loan and with prepaying it
Interest saved against a regular loan
₹27,01,638
- EMI (unchanged)
- ₹44,186
- Loan cleared in
- 11 years 4 months, not 20 years
- Parked money left after clearing it
- ₹46,992
The parked money stays yours to withdraw throughout.
Total interest, three ways
- Regular loan at 8.50%, left alone
- ₹54,13,879
- Regular loan prepaid with the same money (cleared in 13 years 5 months)
- ₹34,46,259
- Overdraft loan at 8.75%, money parked
- ₹27,12,241
The overdraft loan costs ₹7,34,018 less than prepaying a regular loan, and the money stays withdrawable.
Year by year, overdraft loan
- Year 1
- owed ₹49,03,463 · parked ₹5,10,000
- Year 2
- owed ₹47,46,742 · parked ₹6,30,000
- Year 3
- owed ₹45,64,812 · parked ₹7,50,000
- Year 4
- owed ₹43,55,378 · parked ₹8,70,000
- Year 5
- owed ₹41,15,934 · parked ₹9,90,000
- Year 6
- owed ₹38,43,746 · parked ₹11,10,000
- Year 7
- owed ₹35,35,831 · parked ₹12,30,000
- Year 8
- owed ₹31,88,935 · parked ₹13,50,000
- Year 9
- owed ₹27,99,507 · parked ₹14,70,000
- Year 10
- owed ₹23,63,672 · parked ₹15,90,000
- Year 11
- owed ₹18,77,202 · parked ₹17,10,000
- Year 12
- owed ₹17,03,008 · parked ₹17,50,000
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How this is calculated
Formula
each month: interest = max(0, balance − parked) × r ÷ 12; balance −= EMI − interest
With your numbers
- 1EMI₹50,00,000 at 8.75% over 240 months = ₹44,186
- 2Parked in all₹17,50,000
- 3Interest₹27,12,241 over 11 years 4 months
- 4Savedregular loan interest − overdraft loan interest₹54,13,879 − ₹27,12,241 = ₹27,01,638
- Money parked or taken out after an EMI changes the interest from the next month.
- The loan counts as cleared once the money parked covers what is owed.
Frequently Asked Questions
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