Loan Prepayment Calculator
Interest saved and months cut by prepaying a loan every month or every year
Interest saved
₹21,78,721
- Closes early by
- 7 years 1 month
- Loan runs for
- 12 years 11 months
- Share of the interest saved
- 40.2%
- Total prepaid
- ₹15,40,000
The EMI stays the same and the loan closes early.
With and without the plan
- EMI
- ₹43,391
- Interest, no prepayment
- ₹54,13,879
- Interest, with the plan
- ₹32,35,158
- Tenure, no prepayment
- 20 years
- Tenure, with the plan
- 12 years 11 months
- Interest saved
- ₹21,78,721
Balance at the end of each year, with the plan
- Year 1
- ₹47,75,701
- Year 2
- ₹45,31,577
- Year 3
- ₹42,65,874
- Year 4
- ₹39,76,685
- Year 5
- ₹36,61,935
- Year 6
- ₹33,19,363
- Year 7
- ₹29,46,512
- Year 8
- ₹25,40,703
- Year 9
- ₹20,99,025
- Year 10
- ₹16,18,307
- Year 11
- ₹10,95,097
- Year 12
- ₹5,25,641
- Year 13
- ₹0
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How this is calculated
Formula
each month: interest = balance × i; balance −= (EMI − interest) + prepayment
With your numbers
- 1EMI₹50,00,000 at 8.50% over 240 months = ₹43,391
- 2Without prepaying₹54,13,879 interest over 20 years
- 3With the plan₹10,000 a month from instalment 1: ₹32,35,158 interest over 12 years 11 months
Frequently Asked Questions
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Terms used here
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