CalcKit🏦 Loan Prepayment Calculator
Loan jaldi chukao — kitna interest bachega?
Enter your loan details and a one-time prepayment amount. See how much total interest you save and how many months your loan tenure shrinks.
Assumes prepayment today; EMI stays same, tenure reduces. Check prepayment charges with your bank.
Frequently Asked Questions
Is prepaying a loan always smart?
Usually yes if the loan rate exceeds what your savings earn — but check prepayment penalties and keep an emergency fund first.
Does prepayment reduce EMI or tenure?
This calculator keeps EMI the same and shortens tenure (the option that saves the most interest). Banks may offer EMI reduction instead.
Are there prepayment charges?
Many banks charge 2–5% on fixed-rate loans; floating-rate home loans in India typically have zero prepayment charges for individuals.
When does prepayment save the most?
Early in the loan — that's when each EMI is mostly interest, so cutting principal then has the biggest effect.