Current loan details
Outstanding loan balance₹50 L
₹
Interest rate (% p.a.)8.50%
Remaining tenure240 months
Prepayment amount₹5 L
₹
Prepayment strategy
Additional monthly EMI (₹)₹0
₹
Total interest saved
—
—
Without prepayment
EMI—
Months remaining—
Total interest—
Total payment—
After prepayment
EMI—
Months remaining—
Total interest—
Total payment—
Full impact analysis
Interest saved (lump sum)—
Additional interest saved (extra monthly EMI)—
Total interest saved—
Months / tenure saved—
Effective annual return on prepayment—
Prepayment as % of outstanding balance—
Interest reduction progress
Should you prepay or invest elsewhere?
RBI rule since 2012: Banks cannot charge prepayment penalty on floating rate home loans. For fixed-rate home loans, penalty is typically 2–3% of prepaid amount — check your loan agreement.
Tax note: Section 80C benefit on principal repayment (up to ₹1.5L/year) applies only to scheduled EMI principal, not prepayments. Section 24(b) interest deduction (up to ₹2L/year for self-occupied) continues until loan closure.