ICICI Home Loan Prepayment Calculator
Model extra monthly contributions, annual bonus lump-sums, or step-up EMIs on your ICICI home loan to calculate exact interest savings and loan closure timeline.
ICICI Loan Parameters
0% Prepayment ChargesAmortization 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
Does ICICI Bank charge any fees for part-prepayment on home loans?
No. ICICI Bank charges zero prepayment or foreclosure penalty on all floating rate home loans sanctioned to individual borrowers, compliant with Reserve Bank of India (RBI) regulations.
Can I make part-prepayments through the iMobile app?
Yes, ICICI Bank allows seamless instant part-prepayments directly through the iMobile app or ICICI Internet Banking portal under 'Loans' > 'Home Loan Account' > 'Part Payment'.
How does ICICI calculate interest on the remaining home loan balance?
ICICI calculates interest on a daily reducing balance basis. When your part-prepayment is credited, your principal drops immediately and interest is reduced from the very next day.
What happens if I increase my ICICI Home Loan EMI annually?
Increasing your EMI by 5% to 10% each year (called a Step-Up Prepayment) acts as an automatic compounding accelerator, easily knocking 7 to 9 years off a 20-year loan.