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See interest saved by prepaying your loan early
How many months of EMI you've paid so far
Total Interest Saved
Tenure Reduced (months)
New EMI After Prepayment
Remaining Loan Balance
Loan prepayment allows you to pay part or full outstanding balance before the scheduled maturity, reducing total interest and tenure. Prepayment impact varies dramatically by loan age—paying lump sums in early years saves 40-50% interest, while late-stage prepayment saves just 5-10%. Understanding prepayment mechanics helps borrowers decide when bonuses/windfalls should pay down debt. Most Indian lenders allow penalty-free prepayment, making it financially optimal whenever you have surplus cash. Prepayment is especially impactful on high-interest loans (personal, business) but also valuable for mortgages—a ₹50L home loan at 8.5% prepayment of ₹5L in year 3 saves ₹28L in interest and 8 years of tenure.
EMI = P × r × (1+r)^n / ((1+r)^n − 1)Where:
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This calculator is provided for informational and educational purposes only. While we strive for accuracy, results should be verified with official sources or by consulting qualified professionals. Tax laws, rates, and regulations are subject to change. GotRedFlags is not responsible for financial decisions made based on these tools.