Repayment planning estimate

Home Loan EMI Calculator with Prepayment & Amortization

Calculate monthly Home Loan EMI, view interactive amortization schedule, and simulate how lump-sum or recurring prepayments reduce tenure and save lakhs in interest.

Home Loan Amount

₹

₹50,00,000

₹5 L₹5 Cr

Presets:

Interest Rate (% p.a.)

6.5 %15 %

Presets:

Tenure (Years)

1 Yr30 Yr

Presets:

Monthly EMI

₹43,391

Due monthly for 240 months

Principal Amount₹50,00,000

Total Interest₹54,13,941

Total Amount PayablePrincipal + Total Interest

₹1,04,13,840

Monthly EMI₹43,391

Principal Amount

₹50,00,000(48%)

Total Interest

₹54,13,941(52%)

Prepayment SimulatorOptional

See the dramatic impact of making extra payments towards your principal balance.

Prepayment Mode

Tenure Reduction (Max Savings)Keep EMI constant; loan closes early

EMI Reduction (Lower Monthly EMI)Keep tenure fixed; reduce monthly burden

Lump-Sum PrepaymentOne-time

Prepayment Amount (₹)

₹

Prepayment at Month

Recurring PrepaymentOngoing

Recurring Amount (₹)

₹

Frequency

Starting Month

Total Interest Saved:₹0

Loan Tenure Reduced By:0 Months

Amortization Schedule

Click any year row to view individual monthly principal & interest allocations.

Year	Opening Balance	Principal Paid	Interest Paid	Prepayment	Closing Balance
Calculate loan parameters to generate yearly and monthly amortization schedule.

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Amount and term carry over. Comparison uses its own input limits and borrower-profile assumptions; edit them there.

Frequently Asked Questions

How is Home Loan EMI calculated in India?

Home Loan EMI is calculated using the reducing balance method formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P is Principal, R is monthly interest rate (annual rate / 12 / 100), and N is total tenure in months.

How does prepaying home loan principal save money?

Any prepayment directly reduces your outstanding loan principal. Because interest is charged monthly on the balance remaining, a reduced principal slashes future interest accrual, saving lakhs over a 15 to 30 year tenure.

Should I reduce loan tenure or reduce monthly EMI when prepaying?

Choosing tenure reduction produces vastly superior total interest savings because compound interest works over fewer years. Reducing EMI helps monthly household budget liquidity but saves substantially less interest overall.

Are there prepayment penalty charges on floating rate home loans in India?

As per Reserve Bank of India (RBI) regulations, banks and housing finance companies cannot levy any prepayment penalty or foreclosure charges on floating interest rate home loans sanctioned to individual borrowers.