Loan Prepayment Calculator
Calculate savings in interest and reduction in loan tenure when you make a part prepayment towards your loan.
Why Prepay a Loan?
Prepaying a loan can reduce your overall interest burden and help you close the loan earlier. It is especially useful when done in the early stages of your loan.
How This Calculator Helps
This loan prepayment calculator helps you see two options — how much your EMI reduces (if tenure remains the same) and how many months you can save (if EMI stays constant).
Loan Prepayment Calculator FAQs
Is prepayment good for a loan?
Yes, prepaying your loan helps reduce total interest and loan tenure. It's most effective when done in the early years of the loan.
Will my EMI reduce if I make a part prepayment?
Yes, depending on your bank’s policy, you can either reduce your EMI or reduce the tenure of your loan.
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