Loan Prepayment Calculator

Prepayment in this tool models a single one-time lump-sum payment made at a chosen point in the loan — for example, from a bonus or windfall. See the Part Payment calculator for recurring smaller extra payments made regularly over time.

Reducing tenure while keeping the EMI the same typically saves more total interest, since the loan closes sooner. Reducing the EMI while keeping tenure the same instead lowers your monthly outflow without shortening the loan.

Almost always, since it reduces the principal against which future interest is calculated. The exception is if your lender charges a prepayment penalty that offsets some of the savings.

Prepaying earlier in the tenure saves more total interest, since more of the loan's future interest is calculated on a higher outstanding principal early on.

Yes — prepayment reduces your existing loan's principal with your own funds. A balance transfer instead moves your entire outstanding loan to a new lender, often for a better rate — see the Balance Transfer calculator for that.