Loan Prepayment & Savings
Takes an existing EMI loan and an extra principal payment, then shows interest saved and the new tenure (or the new EMI if you keep tenure and cut the instalment).
Calculator Universe is published by SmartAI Labs. The panel above is the interactive Loan Prepayment & Savings; the rest of this page is ordinary HTML so you can read how the tool works without waiting for the app to boot.
How the Loan Prepayment & Savings works
Takes an existing EMI loan and an extra principal payment, then shows interest saved and the new tenure (or the new EMI if you keep tenure and cut the instalment).
Formula / method. After a prepayment P_extra, outstanding ← outstanding − P_extra. Rebuild the schedule at the same r. Savings = old total interest − new total interest.
When to use it. Use it before you drop a bonus on the loan. Compare ‘cut tenure’ versus ‘cut EMI’ — they do not save the same interest.
How to run a comparison
- Open Loan Prepayment & Savings from Home search, the Finance Studio hub, or this URL.
- Copy amounts, rates or dates from a document you already have — not a round marketing figure.
- Read the headline result and any breakdown (schedule, slabs, or intermediate rows).
- Change one input at a time so you can see what actually moves the answer.
- Cross-check with a related calculator below, then confirm statutory rates before you act.
Nothing you type is uploaded for server-side processing. Save or screenshot an output if you need it later; we do not keep a server-side history.
Notes and assumptions
No prepayment penalty is deducted unless you reduce the extra by that fee. Floating-rate loans will drift from this picture at the next reset.
Results are estimates for education and planning only. They are not financial, tax, medical, or legal advice. Slabs, scheme rates and product terms change; verify against official notifications or a qualified professional before acting.
Related calculators in Finance Studio
- EMI Calculator — Calculate loan EMI, total interest, and amortization schedule.
- Home Loan EMI — Plan home loan tenure, interest, and prepayment options.
- Car Loan EMI — Calculate auto loan monthly payments and interest.
- Flat vs Reducing Rate — Compare flat interest vs reducing balance loan rate.
- Loan Eligibility — Check how much a bank will actually lend you before you commit.
- Simple Interest — Calculate basic interest for fixed principal and tenure.
Browse the full Finance Studio hub or return to the Calculator Universe home catalog for every tool.
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