Mortgage Overpayment Calculator

On floating-rate home loans, yes — RBI rules bar prepayment penalties for individual borrowers, so there's no allowance to check. Fixed-rate loans, and other loan types like car or personal loans, may still charge a 2–5% foreclosure fee, so check your specific agreement.

Compare your loan's interest rate against the after-tax return you'd earn saving instead. Overpaying an 8.5% loan is a guaranteed, tax-free 8.5% return; if your investments reliably beat that after tax, saving may be the better choice, but few safe options do.

This depends on your lender's policy — most keep your required EMI the same and let overpayments shorten the term (which this calculator models, and which saves the most total interest); some lenders let you choose to instead reduce the EMI while keeping the original term.

Any consistent amount helps, but the earlier and larger the overpayment, the more it saves, since it compounds against a bigger remaining balance. Even ₹2,000–₹5,000 a month on a typical Indian home loan can save lakhs and multiple years — use the calculator above with your own numbers.

Pay off higher-interest debt (credit cards, personal loans) before overpaying a home loan — home loan rates are usually the lowest form of debt you hold, so other debts cost you more per rupee and should be cleared first.