Finance & Insurance
EMI Calculator With Loan Prepayment
Compare loan payments with one-time and recurring prepayments. See interest saved, fees, revised EMI, and a monthly payoff schedule in USD or INR.
Your inputs
Results and analysis
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Explore Custom Software ↗How much interest can extra loan payments save?
Extra principal reduces the balance on which future interest is calculated. Savings depend on the original term, rate, timing, and whether the lender keeps the payment fixed or recalculates it.
Worked example
For a zero-interest loan of $12,000 over 12 months, the payment is $1,000. A $2,000 extra payment at the first due date ends the loan two months early with no interest savings.
How this tool works
This model calculates interest each month on the opening balance, pays the scheduled installment, and then applies extras to principal. The first due date is one month after the start date. A prepayment date maps to the first due date on or after it. A rate change applies at the start of the chosen payment month, recalculating the payment over the remaining original term.
What to check before using the result
Enter the loan’s annual interest rate rather than an APR that includes fees. A fee is charged per due date on which an extra principal payment is applied. Verify whether your lender permits recasting and how it credits extra principal.
Reviewed by Deepak Softech · November 12, 2026
Frequently asked questions
How do reduce-tenure and reduce-EMI strategies differ?
Reduce tenure keeps the installment until payoff unless the optional rate changes. Reduce EMI recalculates the next payment over the original remaining term after each prepayment.
Does the schedule include escrow or lender rules?
It shows principal, interest and entered prepayment fees only. Lender rounding, interest accrual, escrow, and recast eligibility may differ.
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