Small extras, big savings
On a ₹50 lakh, 20-year loan at 8.5%, paying just one extra EMI a year (about ₹43,400) cuts the loan by over 3 years and saves around ₹10 lakh in interest. Try "Extra every year" with your EMI amount to see it for your own loan.
Related: EMI calculator · SIP calculator · income tax (Section 24b interest)
How to use the Home Loan Prepayment Calculator tool
- Enter your loan amount, interest rate and tenure.
- Add a one-time prepayment (and when), and/or regular monthly or yearly extra payments.
- Choose whether to reduce tenure or EMI.
- See interest saved and how many months earlier you will be debt-free.
Why SaralKit?
- Free forever: no "credits", no trial, no premium tier, no watermark and no daily limit.
- No account, ever: nothing to sign up for. Just open the page and use it.
- No data stored: your files and the numbers you type are processed by your own browser. We never upload, store or see them.
- Works offline: once the page has loaded, most tools keep working without internet.
- Open source: anyone can read the code on GitHub.
Frequently asked questions
Is it better to reduce EMI or reduce tenure after prepaying?
Reducing tenure saves much more interest, because the loan ends sooner. Reduce EMI only if you need lower monthly outgo. Compare both with the toggle above.
When should I prepay my home loan?
As early as possible. In the first years most of each EMI is interest, so every rupee prepaid then saves the most.
Are there charges for prepaying a home loan?
RBI rules do not allow banks to charge prepayment penalties on floating-rate home loans for individuals. Fixed-rate loans may carry charges; check your loan agreement.
Prepay the loan or invest in SIP?
Prepaying "earns" your loan rate (for example 8.5%) risk-free. Equity SIPs may earn more over the long term but with risk. Many people do both: a yearly prepayment plus a SIP.