EMI Calculator + Prepayment Compare
All math runs on your device — nothing is sent or saved. Last updated: September 2026.
Base EMI
₹22,493
Interest ₹28,98,356 · 240 months
Reduce tenure
150 months
Saves ₹12,47,327 interest
Reduce EMI (lump only)
₹21,576
Saves ₹1,09,052 interest
Planning 1–2L every year for 15 years? Open the multi-year EMI planner →
Type a different lump for each year, see balance left and tenure/EMI drop year by year.
This table provides a year-by-year breakdown of your loan amortization schedule, illustrating the annual principal repayment, interest charges, total instalments, and remaining outstanding balance.
How to use this calculator
- Move a slider — or tap the number box and type your own value.
- Card 1 shows your normal EMI. Cards 2 and 3 show what extra payments save you.
- Open the yearly table to see principal, interest and balance every year.
- For next-year only: type your current remaining balance as Loan amount and set tenure to remaining years. For full 15-year 1-2L planning: Open the multi-year EMI planner
What is this tool?
An EMI is the fixed amount you pay the bank every month until your loan ends. This calculator shows your EMI and compares two smart moves: paying extra to finish early versus paying a lump sum to shrink the EMI. Use it before taking or prepaying any home or personal loan.
Common EMI questions
Should I reduce EMI or tenure?
Reducing tenure saves more interest; reducing EMI lowers monthly burden. Compare both cards above with your own numbers.
Is there a prepayment penalty in 2026?
No prepayment charges on individual floating-rate loans sanctioned or renewed on or after 1 January 2026, with no lock-in period.
Why is my bank's 'low rate' offer costlier?
Flat-rate math itself roughly doubles the true cost versus reducing-balance at the same quoted number — before processing fees plus 18% GST. Always compare the total yearly cost, not the headline rate.
What banks don't tell you
Cutting tenure beats cutting EMI. The same extra money finishes the loan early instead of shrinking instalments — because every prepaid rupee stops future interest.
No prepayment penalty since January 2026. Floating-rate personal loans carry zero prepayment charges and no lock-in period.
Compare the full yearly cost, not the headline rate. Add processing fee plus 18% GST on it before choosing a lender.
Read the full Real Loan & EMI Guide →
This tool gives an estimate for guidance only. It is not financial advice. Confirm rates with your bank or RBI before deciding.