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Home Loan EMI Prepayment Calculator?
A home loan EMI prepayment calculator is a tool you can use online to figure out how much you would have to pay each month (EMIs) to pay off your loans early. A lot of customers want to pay off their home loans as soon as possible to lower the total interest they pay, shorten the loan term, and get rid of the stress of having to pay them back. The Prepayment EMI Calculator shows you how much more you would have to pay in EMIs and for how long to pay off your home loan early.
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- Home Loan EMI Prepayment Calculator?
What Is a Home Loan EMI Prepayment Calculator?
A Home Loan EMI Prepayment Calculator is an online calculator that helps you understand the benefits of prepaying your home loan. It calculates the effect of prepaying your home loan on the principal amount, tenure of the loan, and the total interest paid. A prepayment EMI calculator is used by many home loan borrowers to calculate the benefits of prepaying their home loan. By entering the amount of part-prepayment, you can determine whether it is beneficial to pay lower EMI or to pay off the loan in a shorter period.
How Does the Home Loan EMI Calculator with Prepayment Option Work?
These home loan insurance calculators with EMI prepayment options work on the standard formula, but add the prepayment aspect, which allows you to see how the increase in premiums can decrease your loan repayment tenure. This helps you see how fast you can clear your debts, plan your finances, and improve your repayment strategies.
Why Use the Home Loan EMI Calculator with Prepayment Option?
You should use the home loan EMI calculator with prepayment option for the following reasons:
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Decrease Total Interest Paid: The EMI calculator helps you see how much interest you can save by prepaying your home loan early, as it is calculated on the remaining principal.
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Decrease the Loan Term: Your prepayment of home loan will help you calculate how much you can decrease your loan tenure.
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EMI impact: By checking how the change in premiums affects your EMI prepayments, you can alter the premiums to check how much change would fit your budget.
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Plan Your Finances: You can use the house loan insurance calculator with prepayment option to plan your finances and make sure that the increased premiums still fit your budget.
What are the Benefits of Using a Home Loan EMI Prepayment Calculator?
A home loan EMI prepayment calculator shows the real impact of paying extra towards your loan. Instead of guessing, you see how small changes in payment can reduce interest and speed up closure. You can use the Prepayment EMI Calculator to:
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Learn how prepayments reduce the principal faster.
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Check how much interest you save over the full loan term.
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Compare different prepayment amounts before committing.
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See whether it is better to decrease EMI or shorten term.
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Plan prepayments without affecting your monthly cash flow.
What are the Types of Prepayments You Can Make?
Prepayment does not always mean closing the full loan. The home loan EMI prepayment calculator works for different repayment styles.
Some of the common Prepayment EMI types are:
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Part Prepayment: Making an extra payment periodically to cut down the principal amount.
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Regular Extra EMI: Paying an additional fixed amount every month with your EMI.
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Annual Bonus Payment: Settling off your loan using annual bonuses or incentives.
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One-Time Large Prepayment: Clearing off your loan using your savings or investments.
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Full Preclosure: Paying off your entire loan amount before the end of the loan tenure.
The Prepayment EMI Calculator will help you compare the different options easily since they all impact your EMI and tenure in different ways.
EMI Reduction vs Tenure Reduction: What Should You Choose?
When you prepay, banks usually allow two choices: reduce the EMI or shorten the loan tenure. A home loan EMI prepayment calculator lets you check which would be better, a lower EMI or term.
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Tenure reduction helps you save more interest in the long run.
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EMI reduction lowers your monthly burden but keeps the loan running longer.
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If your income is stable, reducing tenure usually makes more sense.
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If you need monthly comfort, reducing EMI may be better.
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The Prepayment EMI Calculator helps you decide based on your budget and goals.
When Is the Right Time to Prepay a Home Loan?
Timing plays a big role in how effective your prepayment is. Interest is highest in the early years of a home loan.
Using a home loan EMI prepayment calculator is most useful when:
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You are in the first half of your loan repayment term.
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You receive a salary hike, bonus, or inheritance.
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Your emergency fund is already in place.
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You want to reduce long-term financial pressure.
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You are planning future investments or retirement.
Early prepayments usually save much more interest than late ones.
What are the Details Required to Use the Housing Loan Insurance Calculator with Prepayment Option?
The details required to use the home loan Prepayment EMI Calculator are:
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Outstanding loan amount
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Number of Months
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Interest Rate
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Part-prepayment Amount
How can a Home Loan Insurance Secure Your Family?
Home loan insurance can assist in securing your loved ones against the possibility of having to pay off the remaining home loan in case of your demise. The home loan insurance payout can be used to pay off the remaining home loan and also secure your home for your loved ones. The premium for this insurance plan can be paid together with the home loan EMIs, and having the policy in place will give you peace of mind.
Final Thoughts
A Home Loan EMI Prepayment Calculator takes the uncertainty out of early repayment. A Prepayment EMI Calculator shows you exactly how part-prepayments lower your principal, lower your interest costs, and speed up the process of paying off your loan. You don't have to guess how extra payments might help. It lets you test out different situations, keep track of your monthly budget, and choose between lowering your EMI or paying off the loan sooner. A Home Loan EMI Prepayment Calculator can help you make prepayment a regular part of your life.
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˜The insurers/plans mentioned are arranged in order of highest to lowest Sum Assured(SA) offered by Policybazaar’s insurer partners offering term insurance plans on our platform, as per ‘first year premium of life insurers as at 31.03.2025 report’ published by IRDAI.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. For complete list of insurers in India refer to the IRDAI website www.irdai.gov.in
Rs. 400/month is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
Rs. 400/month (Rs.13/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 230 is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 8/day is starting price for a 50 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 12/day is starting price for a 75 lakhs term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age, rounded off to nearest 10.
+Rs. 497/month is starting price for a 1.5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 487/month is starting price for a 2 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 626/month is starting price for a 3 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. 905/month is starting price for a 5 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs. ₹360/month is the starting price for a ₹99 lakhs loan cover with an 8% interest rate for an 18-year-old male, non-smoker, with no pre-existing diseases, loan tenure up to 20 years, rounded off to the nearest 10
+Rs. 1,267/month is starting price for a 7 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
*The full refund of premium is available on availing the one-time option of refund of premium. Total premium paid for policy (paid for add-ons) will be the special exit value, payable on availing the one-time option of refund of premium if you wish to completely exit the policy.
+Rs. 447/month is starting price for a 1 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
+Rs.679/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 30 years of age.
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Rs. 461/month is the starting price for a 1 crore term life insurance for an 24 year-old female, non-smoker, with no pre-existing diseases, cover upto 54 years of age.
1,642/month is the starting price for a 1 crore term life insurance for an 44 year-old female, non-smoker, with no pre-existing diseases, cover upto 74 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
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Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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