Personal Loan Prepayment Calculator
Interest saved by prepaying your personal loan.
Interest saved
₹28,629
Personal loans can carry 0–4% foreclosure charges depending on the lender — net them off against the savings shown. EMI is assumed unchanged, shortening the tenure.
Why early prepayment on a personal loan is so powerful
Interest accrues on the outstanding balance, so a prepayment early in the tenure — when the balance is at its peak — eliminates the most future interest. The same amount prepaid late in the loan saves only a fraction. Run a couple of timings above and compare the savings.
Frequently asked questions
Should I lower my EMI or shorten the tenure after prepaying?
Keep the EMI and shorten the tenure if you can afford it — that maximises interest saved. Lower the EMI only if monthly cash flow is genuinely tight.
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