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Standard EMI iMonthly EMI calculated by bank
Calculate housing loan EMI for SBI, HDFC, ICICI • See how prepayment saves lakhs!
| Period | EMI Paid | Principal | Interest | Prepay | Balance |
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This calculator shows you exactly how much you can save by paying more than your standard EMI on your home loan. Most Indian banks allow unlimited prepayment on floating rate home loans without penalty.
EMI (Equated Monthly Installment) is calculated using: EMI = P × r × (1+r)^n / ((1+r)^n – 1), where P is principal, r is monthly interest rate, and n is number of months.
Yes! For floating rate home loans, RBI prohibits banks from charging prepayment penalties. SBI, HDFC, ICICI, Axis all allow unlimited prepayment.
For a ₹50 lakh loan at 8.5% for 20 years, paying ₹5,000 extra monthly saves ₹12+ lakhs in interest and closes loan 5-6 years early!