Smart Loan Optimizer 🇮🇳
Preview: Next 12 Months
| Month | Opening Balance | Interest | Principal | Closing Balance |
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Calculate net interest savings on HDFC, SBI, & ICICI loans. Compare Loan Prepayment vs. SIP returns. Download your full monthly amortization schedule as a PDF for free.
Frequently Asked Questions (FAQ)
1. Is it better to prepay a home loan or start an SIP in India?
If your home loan interest rate is 8.5% and you expect an Equity SIP return of 12%, investing technically makes you wealthier. However, prepaying gives a "guaranteed" return. Use our calculator above to see the specific net benefit for your remaining tenure.
2. Does SBI or HDFC charge a penalty for loan prepayment?
For floating-rate home loans, RBI mandates zero prepayment penalties. However, for fixed-rate loans or personal loans, banks may charge 2% to 4%. Always check your loan agreement before making a large part-payment.
3. How much interest can I save by paying one extra EMI per year?
Paying just one extra EMI annually can reduce a 20-year loan tenure by approximately 3-4 years, saving you lakhs in interest. This tool helps you visualize that impact instantly with the amortization schedule.