| Month | EMI (₹) | Principal Paid (₹) | Interest Paid (₹) | Outstanding Balance (₹) |
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Loan prepayment allows you to pay off your loan earlier than scheduled, potentially saving thousands in interest. Our calculator helps you understand the financial impact.
Enter your loan details and prepayment information. The calculator will show original vs. revised payment schedules and savings.
Loan prepayment refers to paying off your loan before the scheduled tenure ends. Foreclosure is the process where the lender recovers the outstanding amount if you default, but in this context, it means early closure of the loan.
Prepaying reduces the principal amount faster, which means less interest accrues over time. Our calculator shows the exact savings in interest payments.
Some loans have prepayment penalties. This calculator assumes no penalties; consult your lender for actual terms.
You need loan amount, interest rate, tenure in years, months until prepayment, and prepayment amount.
The calculator uses standard EMI formulas and is accurate for loans without additional fees or variable rates.
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