What This Calculator Does
Calculate how extra prepayments reduce interest burden and shorten tenure.
How to Use This Calculator
- Enter Loan Amount, Rate, Tenure
- Enter Extra Monthly Prepayment Amount
- Click Calculate Loan Details
Formula & Calculation Methodology
Amortization recalculation with principal reduction
Worked Example
Loan ₹5L at 10.5% for 5 yrs + ₹2,000 extra monthly => Saves ₹45,210 interest & closes 14 months early.
In-Depth Guide & Practical Tips
Accelerated loan prepayments reduce the remaining principal balance early in loan tenure.
Frequently Asked Questions (FAQ)
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