⚡Prepayment Calculator
Calculate Prepayment Savings
Calculate savings from prepaying your loan
Loan Details
Enter loan and prepayment details
Interest Comparison
About Prepayment Calculator
A prepayment calculator helps you understand the impact of making partial prepayments on your loan. Prepayments can significantly reduce your total interest and loan tenure.
Key Benefits
- Reduce total interest payable
- Shorten loan tenure
- Lower monthly EMI (if opted)
- Save money in the long run
Frequently Asked Questions
Loan prepayment is paying off a portion or the entire loan amount before the scheduled tenure ends. This reduces the principal amount and can save significant interest.
Most banks charge a prepayment penalty, typically 2-4% of the prepaid amount for floating rate loans. Fixed rate loans may have higher penalties. Some banks waive charges after a certain period.