Home Loan EMI Calculator with Prepayment
Simulate standard monthly EMI, extra part prepayments, annual step-ups, and compare tenure reduction vs monthly installment reduction.
Home Loan & EMI Parameters
💰 Prepayment & Extra Outflow Options
Amortization Schedule
Interactive breakdown of balance, interest, and prepayment impact
| Period | EMI Paid | Principal Paid | Extra Prepayment | Interest Paid | Total Payment | Remaining Balance |
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Frequently Asked Questions
How is Home Loan EMI calculated with prepayment?
A standard home loan EMI is calculated using reducing balance interest: EMI = [P x R x (1+R)^N] / [(1+R)^N - 1]. When you make extra prepayments, 100% of that extra amount reduces principal 'P', which causes future compounding interest charges to immediately collapse.
What is the difference between tenure reduction vs EMI reduction?
Tenure Reduction: You keep paying your current EMI amount, but your loan finishes years earlier, saving maximum total interest. EMI Reduction: Your loan duration stays the same, but your future monthly EMI drops, freeing up monthly cash flow.
Are there tax benefits on home loan prepayments in India?
Under the Old Tax Regime in India, principal repayments qualify for deductions under Section 80C (up to ₹1.5 Lakhs), and interest payments qualify under Section 24(b) (up to ₹2 Lakhs for self-occupied properties).