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Home Loan Prepayment Calculator
Free home loan prepayment calculator: how much interest and time a one-time or monthly prepayment saves, and whether to cut your tenure or your EMI.
Interest you save
₹6,87,516
₹6.88 Lakh
💡 Good to know
- Banks can't charge a prepayment or foreclosure fee on floating-rate loans taken by individuals (RBI rules). Fixed-rate loans may have a fee.
- Prepaying early in the loan saves the most, because most of the EMI goes to interest in the first years.
- Keeping the EMI and cutting the tenure usually saves more interest than lowering the EMI.
- Old regime: home loan interest deduction is up to ₹2 lakh a year; prepaying lowers that deduction.
Rules last checked: October 2026. Same rate for the rest of the loan. 🔒 Calculated on your device.
✅ Rules last checked:
📚 Official sources: RBI
We build every tool from the official rules and re-check them when they change. Always confirm with the official source before you rely on a result.
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Questions people ask
Is it better to reduce EMI or tenure?+
Reducing the tenure saves more interest. Reduce the EMI only if you need lower monthly payments.
Do banks charge for home loan prepayment?+
Not on floating-rate loans to individuals: RBI does not allow it. Fixed-rate loans may carry a fee; check your loan agreement.