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Loan Prepayment Calculator Online Free

Estimate loan prepayment benefit online. Use this free calculator to understand possible interest savings, EMI impact and repayment planning when you make an extra payment toward your loan.

Loan Prepayment Calculator

Enter values below to calculate an instant estimate and review the decision trade-offs.

Loan Tenure

Total tenure: 120 months (10 years)

Result Summary

Monthly EMI

₹12,667.58

Principal

₹10,00,000.00

Total Interest

₹5,20,109.29

Total Payment

₹15,20,109.29

Interest vs Principal

52.01%

Loan Tenure

120 months

Repayment schedule & rate stress test

Review how principal and interest change through the loan, and compare the current rate with one percentage point lower or higher.

Rate scenario

8.00%

EMI ₹12,132.76

Total interest ₹4,55,931.13

Current rate

9.00%

EMI ₹12,667.58

Total interest ₹5,20,109.29

Rate scenario

10.00%

EMI ₹13,215.07

Total interest ₹5,85,808.84

MonthPaymentPrincipalInterestBalance
1₹12,667.58₹5,167.58₹7,500.00₹9,94,832.42
2₹12,667.58₹5,206.33₹7,461.24₹9,89,626.09
3₹12,667.58₹5,245.38₹7,422.20₹9,84,380.71
4₹12,667.58₹5,284.72₹7,382.86₹9,79,095.98
5₹12,667.58₹5,324.36₹7,343.22₹9,73,771.63
6₹12,667.58₹5,364.29₹7,303.29₹9,68,407.34
7₹12,667.58₹5,404.52₹7,263.06₹9,63,002.81
8₹12,667.58₹5,445.06₹7,222.52₹9,57,557.76
9₹12,667.58₹5,485.89₹7,181.68₹9,52,071.86
10₹12,667.58₹5,527.04₹7,140.54₹9,46,544.83
11₹12,667.58₹5,568.49₹7,099.09₹9,40,976.33
12₹12,667.58₹5,610.25₹7,057.32₹9,35,366.08
13₹12,667.58₹5,652.33₹7,015.25₹9,29,713.75
14₹12,667.58₹5,694.72₹6,972.85₹9,24,019.02
15₹12,667.58₹5,737.43₹6,930.14₹9,18,281.59
16₹12,667.58₹5,780.47₹6,887.11₹9,12,501.12
17₹12,667.58₹5,823.82₹6,843.76₹9,06,677.30
18₹12,667.58₹5,867.50₹6,800.08₹9,00,809.81
19₹12,667.58₹5,911.50₹6,756.07₹8,94,898.30
20₹12,667.58₹5,955.84₹6,711.74₹8,88,942.46
21₹12,667.58₹6,000.51₹6,667.07₹8,82,941.95
22₹12,667.58₹6,045.51₹6,622.06₹8,76,896.44
23₹12,667.58₹6,090.85₹6,576.72₹8,70,805.59
24₹12,667.58₹6,136.54₹6,531.04₹8,64,669.05
25₹12,667.58₹6,182.56₹6,485.02₹8,58,486.49
26₹12,667.58₹6,228.93₹6,438.65₹8,52,257.56
27₹12,667.58₹6,275.65₹6,391.93₹8,45,981.92
28₹12,667.58₹6,322.71₹6,344.86₹8,39,659.21
29₹12,667.58₹6,370.13₹6,297.44₹8,33,289.07
30₹12,667.58₹6,417.91₹6,249.67₹8,26,871.16
31₹12,667.58₹6,466.04₹6,201.53₹8,20,405.12
32₹12,667.58₹6,514.54₹6,153.04₹8,13,890.58
33₹12,667.58₹6,563.40₹6,104.18₹8,07,327.18
34₹12,667.58₹6,612.62₹6,054.95₹8,00,714.56
35₹12,667.58₹6,662.22₹6,005.36₹7,94,052.34
36₹12,667.58₹6,712.18₹5,955.39₹7,87,340.16
37₹12,667.58₹6,762.53₹5,905.05₹7,80,577.63
38₹12,667.58₹6,813.25₹5,854.33₹7,73,764.38
39₹12,667.58₹6,864.34₹5,803.23₹7,66,900.04
40₹12,667.58₹6,915.83₹5,751.75₹7,59,984.21
41₹12,667.58₹6,967.70₹5,699.88₹7,53,016.52
42₹12,667.58₹7,019.95₹5,647.62₹7,45,996.56
43₹12,667.58₹7,072.60₹5,594.97₹7,38,923.96
44₹12,667.58₹7,125.65₹5,541.93₹7,31,798.31
45₹12,667.58₹7,179.09₹5,488.49₹7,24,619.22
46₹12,667.58₹7,232.93₹5,434.64₹7,17,386.29
47₹12,667.58₹7,287.18₹5,380.40₹7,10,099.11
48₹12,667.58₹7,341.83₹5,325.74₹7,02,757.27
49₹12,667.58₹7,396.90₹5,270.68₹6,95,360.38
50₹12,667.58₹7,452.37₹5,215.20₹6,87,908.00
51₹12,667.58₹7,508.27₹5,159.31₹6,80,399.73
52₹12,667.58₹7,564.58₹5,103.00₹6,72,835.16
53₹12,667.58₹7,621.31₹5,046.26₹6,65,213.84
54₹12,667.58₹7,678.47₹4,989.10₹6,57,535.37
55₹12,667.58₹7,736.06₹4,931.52₹6,49,799.31
56₹12,667.58₹7,794.08₹4,873.49₹6,42,005.22
57₹12,667.58₹7,852.54₹4,815.04₹6,34,152.69
58₹12,667.58₹7,911.43₹4,756.15₹6,26,241.25
59₹12,667.58₹7,970.77₹4,696.81₹6,18,270.49
60₹12,667.58₹8,030.55₹4,637.03₹6,10,239.94
61₹12,667.58₹8,090.78₹4,576.80₹6,02,149.16
62₹12,667.58₹8,151.46₹4,516.12₹5,93,997.70
63₹12,667.58₹8,212.59₹4,454.98₹5,85,785.11
64₹12,667.58₹8,274.19₹4,393.39₹5,77,510.92
65₹12,667.58₹8,336.25₹4,331.33₹5,69,174.67
66₹12,667.58₹8,398.77₹4,268.81₹5,60,775.90
67₹12,667.58₹8,461.76₹4,205.82₹5,52,314.15
68₹12,667.58₹8,525.22₹4,142.36₹5,43,788.92
69₹12,667.58₹8,589.16₹4,078.42₹5,35,199.76
70₹12,667.58₹8,653.58₹4,014.00₹5,26,546.18
71₹12,667.58₹8,718.48₹3,949.10₹5,17,827.70
72₹12,667.58₹8,783.87₹3,883.71₹5,09,043.83
73₹12,667.58₹8,849.75₹3,817.83₹5,00,194.09
74₹12,667.58₹8,916.12₹3,751.46₹4,91,277.96
75₹12,667.58₹8,982.99₹3,684.58₹4,82,294.97
76₹12,667.58₹9,050.37₹3,617.21₹4,73,244.61
77₹12,667.58₹9,118.24₹3,549.33₹4,64,126.36
78₹12,667.58₹9,186.63₹3,480.95₹4,54,939.73
79₹12,667.58₹9,255.53₹3,412.05₹4,45,684.20
80₹12,667.58₹9,324.95₹3,342.63₹4,36,359.26
81₹12,667.58₹9,394.88₹3,272.69₹4,26,964.38
82₹12,667.58₹9,465.34₹3,202.23₹4,17,499.03
83₹12,667.58₹9,536.33₹3,131.24₹4,07,962.70
84₹12,667.58₹9,607.86₹3,059.72₹3,98,354.84
85₹12,667.58₹9,679.92₹2,987.66₹3,88,674.92
86₹12,667.58₹9,752.52₹2,915.06₹3,78,922.41
87₹12,667.58₹9,825.66₹2,841.92₹3,69,096.75
88₹12,667.58₹9,899.35₹2,768.23₹3,59,197.40
89₹12,667.58₹9,973.60₹2,693.98₹3,49,223.80
90₹12,667.58₹10,048.40₹2,619.18₹3,39,175.40
91₹12,667.58₹10,123.76₹2,543.82₹3,29,051.64
92₹12,667.58₹10,199.69₹2,467.89₹3,18,851.95
93₹12,667.58₹10,276.19₹2,391.39₹3,08,575.76
94₹12,667.58₹10,353.26₹2,314.32₹2,98,222.50
95₹12,667.58₹10,430.91₹2,236.67₹2,87,791.59
96₹12,667.58₹10,509.14₹2,158.44₹2,77,282.45
97₹12,667.58₹10,587.96₹2,079.62₹2,66,694.49
98₹12,667.58₹10,667.37₹2,000.21₹2,56,027.12
99₹12,667.58₹10,747.37₹1,920.20₹2,45,279.75
100₹12,667.58₹10,827.98₹1,839.60₹2,34,451.77
101₹12,667.58₹10,909.19₹1,758.39₹2,23,542.58
102₹12,667.58₹10,991.01₹1,676.57₹2,12,551.57
103₹12,667.58₹11,073.44₹1,594.14₹2,01,478.13
104₹12,667.58₹11,156.49₹1,511.09₹1,90,321.64
105₹12,667.58₹11,240.17₹1,427.41₹1,79,081.48
106₹12,667.58₹11,324.47₹1,343.11₹1,67,757.01
107₹12,667.58₹11,409.40₹1,258.18₹1,56,347.61
108₹12,667.58₹11,494.97₹1,172.61₹1,44,852.64
109₹12,667.58₹11,581.18₹1,086.39₹1,33,271.46
110₹12,667.58₹11,668.04₹999.54₹1,21,603.42
111₹12,667.58₹11,755.55₹912.03₹1,09,847.87
112₹12,667.58₹11,843.72₹823.86₹98,004.15
113₹12,667.58₹11,932.55₹735.03₹86,071.60
114₹12,667.58₹12,022.04₹645.54₹74,049.56
115₹12,667.58₹12,112.21₹555.37₹61,937.35
116₹12,667.58₹12,203.05₹464.53₹49,734.31
117₹12,667.58₹12,294.57₹373.01₹37,439.74
118₹12,667.58₹12,386.78₹280.80₹25,052.96
119₹12,667.58₹12,479.68₹187.90₹12,573.28
120₹12,667.58₹12,573.28₹94.30₹0.00

This schedule assumes a constant rate and regular monthly payments. Lender rounding, fees, floating-rate changes and payment dates can alter the actual schedule.

Formula Used

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

P = loan amount, r = monthly interest rate, n = loan tenure in months.

Example

Example: ₹10,00,000 loan at 9% annual interest for 60 months.

Related Finance Calculators

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FAQs

Is this calculator free?

Yes, this calculator is free to use on FormatForge.

Are results exact?

Results are estimates. Actual values may vary due to tax rules, bank policies, fees, inflation, market conditions and other factors.

Is this financial advice?

No. This tool is for education and quick planning only. Please verify important decisions with a qualified advisor.

Finance Authority Pro

A practical guide to using the Loan Prepayment Calculator

Use this calculator to estimate how an extra payment may reduce interest or tenure. A useful result starts with current inputs, realistic assumptions and a comparison of at least two scenarios. The number on screen should support a decision—not replace judgement.

Understand the calculation

The lowest monthly payment is not always the cheapest loan

A longer tenure can reduce the monthly instalment while increasing total interest. A useful loan comparison looks at repayment, fees, flexibility and household cash flow together.

For this calculator, begin with outstanding principal, remaining rate, tenure and prepayment. Check whether each rate is annual or monthly, whether the amount is gross or net, and whether costs outside the calculator need to be added separately.

Costs to include

  • ✓ Principal borrowed
  • ✓ Interest over the full tenure
  • ✓ Processing or arrangement fees
  • ✓ Insurance linked to the loan
  • ✓ Prepayment and late-payment charges

Budget checks

  • × Emergency fund remains intact
  • × Payment fits after essential expenses
  • × Rate increases are affordable
  • × Other debts are included
  • × Irregular annual costs are allowed for

Worked planning scenarios

Test the result from more than one angle

1

Monthly-payment comparison

Compare reducing tenure with reducing EMI after the same prepayment.

2

Rate-rise test

Recalculate with a higher interest rate and confirm the payment still fits after essential expenses and savings.

3

Total-cost test

Add fees and compare total repayment, not only the advertised rate or monthly payment.

Monthly affordability versus total borrowing cost

CheckQuick readingBetter decision method
EMI/paymentLower with a longer tenureHigher with a shorter tenure
Total interestUsually higherUsually lower
Cash-flow pressureLower each monthHigher each month
Debt-free dateLaterEarlier

Common mistakes that change the answer

  • • Entering annual values in monthly fields, or the reverse.
  • • Comparing options with different time periods or assumptions.
  • • Leaving out fees, tax, inflation or product-specific restrictions.
  • • Choosing a rate because it produces the preferred answer.
  • • Failing to update balances, rates or income after they change.

Five-minute review checklist

  1. 1. Confirm the source and date of each major input.
  2. 2. Save a conservative scenario before changing assumptions.
  3. 3. Compare affordability, total cost and liquidity.
  4. 4. Review tax and inflation where relevant.
  5. 5. Verify current legal or scheme rules before acting.

Notes for international users

APR, representative rates, mortgage disclosures, early-repayment rules and consumer-credit protections differ across the UK, US and Europe. In India, verify the lender's reducing-balance method, processing fees and foreclosure conditions.

Questions people ask before relying on the result

What does the Loan Prepayment Calculator actually tell me?

It helps you estimate how an extra payment may reduce interest or tenure. The result is an estimate based on outstanding principal, remaining rate, tenure and prepayment and any other assumptions entered.

Which figures should I verify before calculating?

Verify outstanding principal, remaining rate, tenure and prepayment. Prefer current statements, payslips, lender documents, invoices or official records instead of estimates from memory.

Why can the real outcome differ from the result?

Timing, rounding, fees, tax, changing rates, market movements, missed payments or contributions, and product-specific rules can all change the final outcome.

Should I test more than one scenario?

Yes. A conservative case and a central case are the minimum. Long-term or high-value decisions also benefit from a stress case.

How often should I update the calculation?

Update it when a major input changes. Monthly reviews suit active repayment or saving plans; six-monthly or annual reviews are often enough for long-term tracking.

Can this result replace professional advice?

No. Confirm lender charges and whether the prepayment is applied immediately. Confirm important decisions with current official information or a qualified professional.

Continue the planning workflow

EMI Calculator →Compare the monthly payment and total interest for a loan.Loan Eligibility Calculator →Compare lender eligibility with personal affordability.

Educational use: This calculator and guide do not provide financial, tax, legal or investment advice. Verify important decisions using current official information or a suitably qualified professional.

The values entered into this calculator are processed in your browser. FormatForge does not need to upload them to perform the calculation.