EMI & Loan Prepayment Calculator

🏠 EMI & Loan Prepayment Calculator

Calculate EMI & See How Much Interest You Can Save

💰 Home Loan | Car Loan | Personal Loan
💡 EMI Calculator: Calculate your Equated Monthly Installment for Home Loan, Car Loan, or Personal Loan. See the complete month-wise amortization schedule.
Years ▼
Years
Months
Monthly EMI: ₹43,391
Principal Amount: ₹50,00,000
Total Interest: ₹54,13,852
Total Payment: ₹1,04,13,852
Monthly EMI
₹43,391
Interest %
52%
Principal %
48%

📊 Principal vs Interest Breakdown

48%
52%
Principal
Interest

📅 Amortization Schedule

💡 Smart Move: Making extra payments towards your loan principal can save you lakhs in interest and help you become debt-free years earlier!

📋 Enter Loan Details

💵 Prepayment Options

❌ Without Prepayment

Monthly EMI: ₹0
Total Interest: ₹0
Total Payment: ₹0
Loan Ends In: 0

✅ With Prepayment

Effective EMI: ₹0
Total Interest: ₹0
Total Payment: ₹0
Loan Ends In: 0

🎉 Your Savings

Interest Saved
₹0
Time Saved
0

📖 EMI & Loan Prepayment Guide

What is EMI?

EMI (Equated Monthly Installment) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. EMIs are used to pay off both interest and principal each month.

EMI Formula

EMI = P × r × (1 + r)^n / ((1 + r)^n - 1)

Where:
P = Principal loan amount
r = Monthly interest rate (Annual rate / 12 / 100)
n = Number of monthly installments

Benefits of Loan Prepayment

  • Save on Interest: Reduce total interest paid over the loan tenure
  • Faster Debt Freedom: Become debt-free years earlier
  • Improved Credit Score: Lower debt-to-income ratio
  • Financial Peace: Reduced financial stress and obligations

Current Home Loan Interest Rates (Jan 2026)

BankInterest RateProcessing Fee
SBI8.50% - 9.65%0.35% + GST
HDFC8.75% - 9.90%0.50% + GST
ICICI8.75% - 9.85%0.50% + GST
Axis Bank8.75% - 10.15%1% + GST
Bank of Baroda8.40% - 10.65%0.25% - 0.50%

* Rates are indicative and subject to change. Please check with respective banks for current rates.

Frequently Asked Questions about Loan Prepayment

How does a loan prepayment calculator help me? ▼

This calculator shows you the financial benefit of paying more than your regular EMI. It calculates the total interest you will save and how much your loan tenure will be reduced, helping you make informed decisions to become debt-free faster.

What is a loan amortization schedule? ▼

An amortization schedule is a table that details each periodic payment on a loan. It shows how much of each payment goes towards interest and how much goes towards paying down the principal balance.

Can I export the amortization table? ▼

Yes, our tool allows you to export the detailed month-wise amortization schedule as a PDF or Excel (CSV) file for your records or for sharing with your financial advisor.

What is the difference between prepayment and pre-closure? ▼

Prepayment involves making a partial lump-sum payment towards your loan, which reduces the principal. Pre-closure (or foreclosure) is when you pay off the entire outstanding loan balance in one go before the tenure ends.

Are there any prepayment penalties? ▼

As per RBI guidelines, there are no prepayment penalties on floating-rate home loans. However, fixed-rate loans and other loan types like personal or car loans may attract a prepayment penalty, which varies by lender.

⚠️ Disclaimer

This calculator is for informational and educational purposes only. The calculations are based on standard EMI formulas and may not reflect actual bank calculations which may include processing fees, insurance, and other charges. Interest rates and terms vary by lender. Please consult your bank or financial institution for accurate loan details. This tool should not be considered as financial advice.

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Loan Prepayment Analysis

'; htmlContent += '

Generated on: ' + new Date().toLocaleDateString('en-IN', { day: 'numeric', month: 'long', year: 'numeric' }) + '

'; htmlContent += '

Loan Details

'; htmlContent += '
Principal Amount:Rs.' + prepayData.principal.toLocaleString('en-IN') + '
'; htmlContent += '
Interest Rate:' + prepayData.rate + '% p.a.
'; htmlContent += '
Loan Tenure:' + prepayData.tenure + ' years
'; htmlContent += '
Monthly EMI:Rs.' + Math.round(prepayData.emi).toLocaleString('en-IN') + '
'; htmlContent += '

Prepayment Details

'; htmlContent += '
One-Time Prepayment:Rs.' + prepayData.oneTimePrepay.toLocaleString('en-IN') + '
'; htmlContent += '
Extra Monthly Payment:Rs.' + prepayData.extraMonthly.toLocaleString('en-IN') + '
'; htmlContent += '

Your Savings

'; htmlContent += '

Interest Saved: Rs.' + Math.round(prepayData.interestSaved).toLocaleString('en-IN') + '

'; htmlContent += '

Time Saved: ' + formatMonths(prepayData.monthsSaved) + '

'; htmlContent += '

Disclaimer: This analysis is for informational purposes only. Actual savings may vary based on bank policies and prepayment charges.

'; htmlContent += '

Generated by TaxGST.in

'; iframeDoc.open(); iframeDoc.write(htmlContent); iframeDoc.close(); iframe.contentWindow.focus(); setTimeout(function() { iframe.contentWindow.print(); setTimeout(function() { document.body.removeChild(iframe); }, 1000); }, 250); }function prepayExportExcel() { if (!prepayData.principal) { alert('Please calculate prepayment first'); return; } let csvContent = 'Loan Prepayment Analysis\n'; csvContent += `Generated On,${new Date().toLocaleDateString('en-IN')}\n\n`; csvContent += 'Loan Details\n'; csvContent += `Principal Amount,${prepayData.principal}\n`; csvContent += `Interest Rate (%),${prepayData.rate}\n`; csvContent += `Loan Tenure (Years),${prepayData.tenure}\n`; csvContent += `Monthly EMI,${Math.round(prepayData.emi)}\n\n`; csvContent += 'Prepayment Details\n'; csvContent += `One-Time Prepayment,${prepayData.oneTimePrepay}\n`; csvContent += `Extra Monthly Payment,${prepayData.extraMonthly}\n\n`; csvContent += 'Comparison\n'; csvContent += `Interest Without Prepayment,${Math.round(prepayData.interestNormal)}\n`; csvContent += `Interest With Prepayment,${Math.round(prepayData.interestWithPrepay)}\n`; csvContent += `Interest Saved,${Math.round(prepayData.interestSaved)}\n`; csvContent += `Months Saved,${prepayData.monthsSaved}\n`; const blob = new Blob([csvContent], { type: 'text/csv;charset=utf-8;' }); const url = URL.createObjectURL(blob); const a = document.createElement('a'); a.href = url; a.download = 'loan-prepayment-analysis.csv'; a.click(); URL.revokeObjectURL(url); }// Initialize document.addEventListener('DOMContentLoaded', function() { calculateEMI(); calculatePrepayment(); });
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