Paying a little more than your EMI every month adds up fast. Enter the extra amount to see your new loan end date and total interest saved.
Fill in the details and click Calculate to see your results.
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A small extra payment every month — ₹2,000 or ₹5,000 on top of the EMI — goes entirely to principal. Over the years that reduces interest every single month.
On a ₹30 lakh, 20-year loan at 8.5%, ₹5,000 extra a month closes the loan more than 6 years early and saves over ₹11 lakh in interest.
| Loan Amount | ₹3,000,000 |
| Interest Rate | 8.5 % p.a. |
| Loan Tenure | 20 yrs |
| Extra Each Month | ₹5,000 |
| Loan closes in | 13 yrs 8 mo instead of 20 yrs |
| Tenure reduced by | 6 yrs 4 mo |
| Interest saved | ₹11,73,056 |
| Total interest | ₹20,75,271 (was ₹32,48,327) |
| Regular EMI | ₹26,035 |
| Total extra paid | ₹8,15,000 |
6 yrs 4 mo; ₹20,75,271 (was ₹32,48,327).
Try this example →| Loan Amount | ₹800,000 |
| Interest Rate | 9 % p.a. |
| Loan Tenure | 7 yrs |
| Extra Each Month | ₹2,000 |
| Loan closes in | 5 yrs 10 mo instead of 7 yrs |
| Tenure reduced by | 1 yr 2 mo |
| Interest saved | ₹52,983 |
| Total interest | ₹2,28,203 (was ₹2,81,186) |
| Regular EMI | ₹12,871 |
| Total extra paid | ₹1,38,000 |
1 yr 2 mo; ₹2,28,203 (was ₹2,81,186).
Try this example →Yes. Every extra rupee reduces the balance that interest is charged on. The earlier in the loan you start, the bigger the saving.
Ask your bank for a part-prepayment option online, set up a higher EMI, or use an overdraft-linked home loan (such as a MaxGain-type account) that reduces interest on surplus balance.
Not on floating-rate home loans to individuals. Fixed-rate, car and personal loans may charge a fee or limit part-payments — check your loan agreement.