SBI & HDFC Home Loan Prepayment Calculator
Simulate part prepayments, lump-sum annual bonus payments, and tenure reductions for SBI Regular Home Loans, HDFC MaxGain, ICICI, and Axis Bank floating rate loans in Indian Rupees (₹).
Loan & Part-Prepayment Details
Prepayment Impact Summary
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
Does SBI or HDFC charge prepayment penalties on home loans?
No. As per Reserve Bank of India (RBI) regulations, all Indian banks and HFCs (including SBI, HDFC, ICICI, Axis Bank, and LIC Housing) are strictly prohibited from charging prepayment or foreclosure fees on individual floating-rate home loans.
What is better: Reducing Tenure or Reducing EMI for SBI Home Loans?
Reducing Tenure is mathematically far superior. By keeping your monthly EMI the same and reducing tenure, your interest savings are maximized. Reducing EMI lowers monthly outgo but keeps the loan alive longer, resulting in higher total interest paid.
How does RBI floating rate interest revision affect my prepayment strategy?
When RBI increases the repo rate, banks typically increase your loan tenure rather than increasing your monthly EMI. Doing an annual part-prepayment counteracts this tenure extension and ensures your loan closes early.