Calculate your monthly Home Loan, Car Loan, or Personal Loan EMI and total interest cost. Use the Interactive Prepayment Simulator to see how small extra payments can save lakhs in interest and slash years off your debt.
🏠 Loan Parameters
⚡ Prepayment Super-Saver (Optional)
📋 Loan Amortization Schedule
Year-by-Year| Year | Opening Balance | Principal Paid | Interest Paid | Prepayments | Closing Balance |
|---|
⚡ The 1-Extra EMI Strategy
Paying just 1 extra EMI each year (or increasing your EMI by 5% annually as your salary increases) goes 100% towards direct principal reduction. On a typical 20-year home loan at 8.5%, this single hack cuts your repayment period down to ~15.5 years, saving ₹8 to ₹12 Lakhs!
🧾 Home Loan Tax Deductions
Under the Old Tax Regime, homeowners can claim up to ₹2,00,000 per year on home loan interest under Section 24(b), and up to ₹1,50,000 on principal repayment under Section 80C. Under the New Tax Regime, these deductions are not available for self-occupied properties.
⚖️ Prepay Loan vs Invest via SIP?
If your home loan interest is 8.5% and Nifty 50 delivers 12% to 14%, math suggests investing the surplus. However, debt freedom brings emotional peace of mind. A hybrid approach — paying 1 extra EMI yearly while investing surplus in an equity SIP — delivers the best of both worlds.