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Loan Prepayment
Interest saved and tenure shortened by a part-payment.
Currency
Inputs
$50,000$50,000,000
%
1.0020.00
yr
135
$1,000$1,250,000
mo
1239
Original EMI
$21,696
Unchanged
Interest saved
$611,283
Tenure cut by
3.1 yrs
37 months
A one-time prepayment of $200,000 in month 24 saves you $611,283 and shortens your loan by 3.1 years. Most lenders offer two prepayment treatments — reduce EMI or reduce tenure. This calculator assumes the latter, which saves more interest.