Loan Prepayment Calculator
Interest Saved: ₹0
Loan Prepayment Calculator
The Loan Prepayment Calculator helps you understand how much interest you can save by making a part prepayment towards your ongoing loan. It’s ideal for home and personal loans.
What is Loan Prepayment?
Prepayment means paying a part of your loan principal early. This reduces the overall interest burden or the tenure of your loan.
Steps to Use the Calculator:
- Enter your Loan Amount, Interest Rate, and Tenure.
- Enter the Prepayment Amount you plan to pay early.
- Click Calculate to see the interest saved.
Example:
If your loan is ₹10,00,000 at 9% for 20 years, and you prepay ₹2,00,000:
Loan Prepayment Calculator – Save Interest on Any Loan
Use this loan prepayment calculator India to find out how much interest you can save by making partial or full prepayments on your loan. Whether it's a home loan, personal loan, car loan, or education loan, this tool helps you plan your early loan repayment smartly.
Just enter your loan amount, interest rate, EMI amount, and prepayment amount to view the reduced loan tenure or total interest saved. It works for both fixed and floating interest rate loans.
This calculator also works as a loan foreclosure calculator, loan part payment calculator, and interest savings calculator – perfect for anyone looking to manage their debt better.
Key Benefits of Using a Prepayment Calculator:
- See how much interest you save by prepaying your loan early
- Understand whether to reduce EMI or tenure after prepayment
- Plan for lump sum prepayment from bonuses or windfalls
- Compare multiple loan part payment scenarios easily
- Make better loan closure decisions and become debt-free faster
- Helpful for home loan prepayment benefits calculation
- Works as a prepayment EMI calculator for all loan types
Works with All Indian Banks:
- SBI Loan Prepayment Calculator – Home, Personal & Education Loans
- HDFC Prepayment Calculator – Gold, Personal & Home Loans
- ICICI Loan Part Payment Calculator
- Axis Bank Loan Prepayment Calculator
- PNB, Canara Bank, IDFC First, Kotak & more
Use this tool to plan early loan closure, reduce your financial burden, and save lakhs in interest. It’s perfect for salaried people, self-employed professionals, and business owners handling multiple loans.
Popular Use Cases:
- Check how much interest you save by prepaying SBI Home Loan
- Compare tenure reduction vs EMI reduction in Axis Bank Loan
- Plan part payment for ICICI Car Loan
- Calculate personal loan prepayment benefits instantly
- Use with education loan prepayment planning for students
- Combine with our EMI Calculator for full loan analysis
- Perfect tool for those wondering how to reduce loan interest
Loan Prepayment Calculator – FAQs
1. What is loan prepayment?
Loan prepayment means repaying a part or full loan amount before the scheduled repayment period. It helps reduce either the total interest or the loan tenure.
2. How does the Loan Prepayment Calculator work?
The calculator estimates interest saved and new loan tenure when you make a part-prepayment or full-prepayment. Just enter your loan details and prepayment amount.
3. Can I reduce EMI or loan tenure after prepayment?
Yes. Most banks allow you to either reduce the monthly EMI or shorten the loan tenure after a prepayment. Use the calculator to compare both options.
4. Is there a penalty on prepayment?
Some banks charge a small fee for prepayment, especially for fixed-rate loans. However, most floating-rate home loans don’t have any penalty. Check with your lender.
5. How often can I prepay my loan?
You can usually prepay your loan anytime during the loan tenure. However, some banks may have minimum time gaps or amounts for each prepayment.
6. Can I use this for any type of loan?
Yes. This prepayment calculator works for home loans, personal loans, car loans, education loans, and more – across all major Indian banks.