EMI calculator with prepayment
Your monthly EMI is the easy part. This also shows the interest you'll pay in total, and what one extra payment a year does to it.
Year by year, with prepayment
Why prepayment matters so much
In the early years, most of your EMI goes to interest, not to the loan itself. Every rupee you prepay goes straight to the loan. That cuts the interest on it for every remaining year.
That's why a modest prepayment each year, from a bonus or an increment, can take years off a 20-year loan.
How we calculate
- Standard reducing-balance EMI, calculated monthly.
- Prepayments are made once a year, at the end of each loan year, from the year you choose.
- We keep the EMI the same and shorten the loan, which saves the most interest.
- Most banks charge no prepayment penalty on floating-rate home loans to individuals. Confirm with yours.
Questions people ask
Is it better to reduce the EMI or the tenure after a prepayment?
Reducing the tenure saves more interest, because the loan ends sooner. Reducing the EMI gives you more monthly breathing room. If your budget is comfortable, keep the EMI and shorten the loan.
Is there a penalty for prepaying a home loan?
For floating-rate home loans taken by individuals, banks generally cannot charge a prepayment penalty. Fixed-rate loans can be different. Check your loan agreement.
Why does my loan statement show so little principal paid in year one?
Interest is charged on the outstanding balance. At the start the balance is highest, so most of each EMI is interest. The principal share grows every month.
Tell us what you're looking for. We'll do the shortlisting.
- We call you within one working day. Budget, family needs, office location.
- You get a shortlist. Projects and plots that fit your budget and commute, with the true all-in cost.
- We visit sites with you. And help with the home loan when you're ready.
Free for buyers. When you buy a new flat through us, the developer pays our fee. You pay the same price as buying directly.