Part payment
Build your plan on the left. Watch it pay off on the right.
No Calculate button — every number updates as you type, and each figure traces back to a row in your schedule.
Your loan
What you owe today
Your prepayments
Lump sums or top-ups
Choose the outcome
Shorter loan or lower EMI
Results, live
No Calculate button
Your loan
What you owe today
Computed from the numbers above.
Your prepayment plan
1 active · ₹4.50 L prepaid over the loan
on 05 Feb 27
On its own: saves ₹14.48 L and 4y 1m off your loan.
What should prepaying do?
The single most important choice here
Advanced optionsPayment frequency, rate changes, fees — optional
Payment mechanics
Interest rate changes
The EMI is recomputed over the tenure remaining — tenure held, EMI moves. Check your bank's reset letter: on a floating-rate home loan many Indian lenders do the opposite.
Tax relief
Fees & charges
Usually zero — RBI bars these on floating-rate loans to individuals. Include any GST your lender adds.
Net benefit after fees
₹14.48 L
No fees entered, so the whole saving is yours.
Where you stand after
Side by side
Your loan with your plan, and without it
Two futures for the same loan. The right-hand column is the one you're building.
Interest you keep
₹14.48 L
31% less interest than doing nothing
Time you get back
4y 1m
earlier than Sep 2046
Every figure here is the last row of the matching schedule below — nothing is estimated separately.
Visual proof
Your balance reaches zero 4y 1m sooner
The shaded gap is what you no longer owe. At its widest it is ₹15.98 L.
Where each year's instalments go
Interest outweighs principal until 2034 — which is why a prepayment made before then removes the most.
What waiting costs you
What ₹4.50 L removes from your interest bill, by the date you pay it.
Paid now it removes ₹14.92 L. Wait twelve months and it removes ₹13.62 L — ₹1.30 L less for the same money.
Full detail
Every payment, to the rupee
191 payments across 17 years, every rupee accounted for
17 years match
| # | Date | Opening | EMI | Interest | Principal | Prepayment | Closing |
|---|---|---|---|---|---|---|---|
| ₹45,00,000 | ₹1,15,029 | ₹92,659 | ₹22,369 | — | ₹44,77,631 | ||
| ₹44,77,631 | ₹9,10,115 | ₹3,33,982 | ₹5,76,133 | ₹4,50,000 | ₹39,01,497 | ||
| ₹39,01,497 | ₹4,60,115 | ₹3,16,525 | ₹1,43,591 | — | ₹37,57,907 | ||
| ₹37,57,907 | ₹4,60,115 | ₹3,04,220 | ₹1,55,895 | — | ₹36,02,011 | ||
| ₹36,02,011 | ₹4,60,115 | ₹2,90,861 | ₹1,69,254 | — | ₹34,32,757 | ||
| ₹34,32,757 | ₹4,60,115 | ₹2,76,357 | ₹1,83,758 | — | ₹32,48,999 | ||
| ₹32,48,999 | ₹4,60,115 | ₹2,60,611 | ₹1,99,505 | — | ₹30,49,494 | ||
| ₹30,49,494 | ₹4,60,115 | ₹2,43,515 | ₹2,16,601 | — | ₹28,32,893 | ||
| ₹28,32,893 | ₹4,60,115 | ₹2,24,954 | ₹2,35,162 | — | ₹25,97,731 | ||
| ₹25,97,731 | ₹4,60,115 | ₹2,04,802 | ₹2,55,313 | — | ₹23,42,418 | ||
| ₹23,42,418 | ₹4,60,115 | ₹1,82,924 | ₹2,77,192 | — | ₹20,65,226 | ||
| ₹20,65,226 | ₹4,60,115 | ₹1,59,171 | ₹3,00,945 | — | ₹17,64,282 | ||
| ₹17,64,282 | ₹4,60,115 | ₹1,33,382 | ₹3,26,733 | — | ₹14,37,548 | ||
| ₹14,37,548 | ₹4,60,115 | ₹1,05,384 | ₹3,54,732 | — | ₹10,82,816 | ||
| ₹10,82,816 | ₹4,60,115 | ₹74,986 | ₹3,85,130 | — | ₹6,97,687 | ||
| ₹6,97,687 | ₹4,60,115 | ₹41,983 | ₹4,18,132 | — | ₹2,79,554 | ||
| ₹2,79,554 | ₹2,87,822 | ₹8,267 | ₹2,79,554 | — | ₹0 | ||
Compare strategies
Same money, very different outcomes
Ranked by interest saved against your loan. Tap one to make it your plan.
One bonus a year
₹10,000 every December
Interest saved
₹20.55 L
- Time saved
- 7y 9m
- Extra paid
- ₹15.11 L
- Debt-free
- Dec 2038
- Saved per ₹1
- ₹1
A little every month
₹10,000 on top of every EMI
Interest saved
₹19.94 L
- Time saved
- 7y 6m
- Extra paid
- ₹14.90 L
- Debt-free
- Mar 2039
- Saved per ₹1
- ₹1
Lump sum, straight away
₹4.50 L at your next payment date
Interest saved
₹14.92 L
- Time saved
- 4y 2m
- Extra paid
- ₹4.50 L
- Debt-free
- Jul 2042
- Saved per ₹1
- ₹3
The same lump sum, a year later
₹4.50 L after twelve more payments
Interest saved
₹13.61 L
- Time saved
- 3y 11m
- Extra paid
- ₹4.50 L
- Debt-free
- Oct 2042
- Saved per ₹1
- ₹3
How we calculate
No black box. Six rules produce every number here.
The same six a lender applies to your account each month. Read them, check them against your statement, then trust the schedule.
Interest accrues on your opening balance each period. On the default settings — monthly payments, monthly compounding — that is your annual rate divided by twelve, which is standard reducing balance. Change the payment frequency and the rate is converted so your effective annual rate stays the same.
A prepayment goes entirely to principal. Nothing is applied to interest, which is why the next period costs you less.
No period ever pays more than the balance plus its interest, so the loan settles at exactly zero and can never go negative.
On a rate change the EMI is recomputed over the tenure remaining — tenure held, EMI moves.
Both futures are run through the same engine on the same rate path, so the comparison is fair.
Every headline figure is the last row of its schedule. Nothing on this page is estimated a second way.
Questions people ask
Is there a limit on how much I can part-pay?
Lenders set their own minimums, and some cap the number of part payments per year or per quarter rather than the amount. Regulatory limits on charging you for it are a separate question — see the prepayment charges question below. Your sanction letter is the authority for your own loan.
Should I pay now or wait until I have saved more?
Almost always now. Prepayment savings are close to linear in the amount but strongly non-linear in the date, so a smaller amount paid today routinely beats a larger one paid in a year. The one good reason to wait is that you do not yet have an emergency fund — a part payment is close to irreversible, and most lenders offer no way to draw it back.
Will a part payment change my EMI or my tenure?
Whichever you ask for — and if you do not ask, whichever your lender defaults to. Both outcomes are costed on this page under "What should prepaying do?". Compare them on your own numbers before you give the instruction, because reversing it afterwards usually means another written request.
What should I enter as the outstanding balance?
What you still owe today, from your latest statement — not the amount you originally borrowed. This is the single most common mistake, and it changes every number on the page.
Will my bank charge me to prepay?
On a floating-rate home loan to an individual, almost certainly not. Longstanding RBI guidance already barred foreclosure and prepayment charges on floating-rate home loans to individual borrowers, and the Reserve Bank of India (Pre-payment Charges on Loans) Directions, 2025 widened that for loans sanctioned or renewed on or after 1 January 2026 — for individuals borrowing for purposes other than business, irrespective of the source of the funds, with or without a co-obligant, and with no minimum lock-in. Fixed-rate loans are treated differently and may still carry a charge, calculated on the amount you prepay. Check your sanction letter and your lender's current schedule of charges, then enter anything that applies — including any GST the lender adds to it — under Advanced options, and the net benefit updates. Verified against the 2025 Directions on 10 September 2026.
Why does my bank's number differ slightly?
This calculator uses the standard monthly reducing balance — interest at your annual rate divided by twelve, on the balance at the start of each month — and a prepayment takes effect from your next scheduled payment. Some lenders compute interest on a daily reducing balance with monthly rests, and credit a prepayment on the day you make it. Either way you will save a little more than shown, and the difference is small: at most about one month of interest on the amount prepaid.
Where does my data go?
Nowhere. Every calculation runs in your browser. There is no account, no tracking of your loan values, and no server round-trip to compute any of this.
Why you can check this one
Independent
Not a lender, not a broker, not affiliated with anyone who is. Nothing here is ranked by what it pays us, because nothing pays us. There are no ads and no lead generation.
Checkable
Every figure is the last row of a schedule you can expand, read and download. The rules the engine follows — the rate conversion, the rounding points, how a prepayment is timed — are published in full, along with every place we knowingly differ from a lender.
Honest about limits
It models the loan, not your life. It does not know your lender's exact day-count conventions, your emergency fund or your tax position — and it will tell you when prepayment costs more than it saves rather than showing you a zero.
Nothing you type is sent anywhere. No account, no tracking of your loan details, nothing stored on a server. How that works.
Read the full methodology — the exact rate conversion, where rounding is applied, how we time a prepayment, and every choice we make differently from a lender, with the reasoning for each.
In plain terms
Making a part payment: what to expect from your bank
The arithmetic is the easy part. The instruction you give your lender is where the money is won or lost.
A part payment — part-prepayment, part payment, partial prepayment; lenders use all three — is a one-off amount paid against principal on top of your EMI. Most Indian lenders accept these through net banking or at a branch, and many apply a minimum, commonly expressed as a multiple of your EMI or a flat figure. Check your sanction letter for yours; it is one of the few numbers in this process that varies meaningfully between banks.
The single most important thing to get right is the instruction. When you make a part payment, your lender can either hold your EMI and shorten the tenure, or hold the tenure and reduce your EMI. Shortening the tenure saves substantially more interest. Many lenders default to reducing the EMI unless you say otherwise, and some require a separate written request to do it the other way. Ask explicitly, in writing, and check the revised amortisation schedule they issue afterwards — not the confirmation SMS.
Timing within the month matters less than most people assume but is not nothing. This calculator applies a part payment from the next scheduled instalment on or after the date you set, which is the conservative assumption. Lenders who credit the payment on the day it is received will save you slightly more than shown — at most one period's interest on the amount paid. What matters far more is the year, not the day: use the waiting-cost chart to see what twelve months of delay costs on your own loan.
- Ask for
- Tenure reduction, in writing, unless you specifically need the monthly relief.
- Collect
- The revised amortisation schedule and a written acknowledgement of the amount credited to principal.
- Check
- That the payment was applied to principal and not held as an advance EMI.
How it's calculated
The working behind the number
This part payment calculator applies one lump sum, on the date you choose, wholly to principal from the next EMI on or after that date. It runs your loan with and without it on the same rate path and reports the interest removed, the EMIs cut and the new closing date — or, if you choose a lower EMI instead, the reduced instalment over the tenure the loan has left.
Formula
Bₖ = Bₖ₋₁ − (EMI − Bₖ₋₁ × r) − L, with L counted only at the EMI that carries the lump sum
- Bₖ
- The balance after EMI number k; B₀ is the amount you still owe today.
- r
- A twelfth of the annual interest rate.
- EMI
- Your fixed monthly instalment — computed as P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1) unless you type your own.
- L
- The part payment, applied at the first EMI date on or after the day you pay it.
Assumptions and limits
- Interest accrues once a month on what is still owed, at a twelfth of the annual rate.
- The lump sum is credited at the first EMI date on or after the day you pay it; a lender that credits it the same day saves you up to one more month of interest on it.
- Each month's interest, EMI, principal and balance are rounded to the nearest paisa.
- A charge, where one applies, is a percentage of the lump sum, paid alongside it and never added to what you owe.
- Income-tax relief on the interest is excluded unless you turn it on in Advanced options.
A worked example
Take ₹45,00,000 outstanding at 8.25% a year, with 20 years (240 monthly payments) of tenure left, and a ₹4,50,000 prepayment on 15 Jan 2027.
- Monthly rate r = 8.25% ÷ 12 = 0.6875%.
- Without prepayments the loan ends in Sep 2046 after ₹47.02 L of interest.
- Each prepayment goes straight to principal, so every later month charges interest on a smaller balance.
- With them it ends in Aug 2042, after ₹32.55 L of interest.
You keep ₹14.48 L of interest and finish 49 payments sooner, for ₹4.50 L paid early.
Computed by the calculator on this page, from the figures it opens with.
Sources
- Reserve Bank of India, Pre-payment Charges on Loans Directions 2025, issued 2 July 2025: part or full prepayment of a floating-rate loan to an individual for a non-business purpose, sanctioned or renewed from 1 January 2026, carries no charge; on a fixed-rate loan any charge is computed on the amount prepaid — checked 10 September 2026
- Reserve Bank of India, Key Facts Statement circular of 15 April 2024: retail and MSME term loans sanctioned from 1 October 2024 come with an amortisation schedule and an APR computation sheet — checked 10 September 2026
By The CutYears team · Last reviewed 10 September 2026 · Full methodology