The home loan prepayment calculator is an extensive version of the home loan EMI calculator. With this calculator, you can estimate your future EMIs for a home loan within just a few clicks. However, we have done something practical for you. As we all know these kind of loans, especially home loans, used to be long-term tenure and carries a huge interest liability. People usually try to reduce their tenure by additional payments called prepayments or part payments. Now, this prepayment calculation is quite difficult on pen & paper. So, finlive's Home Loan Prepayment Calculator gives that edge you so that you can add prepayment factors while EMI calculators.
Well, using the Home Loan Prepayment Calculator is pretty easy and convenient. All you need to fill up the following inputs and click on the 'Calculate Now':
If you wish to calculate including prepayments, just click on '+' button from 'Add Prepayments' section. This will open a new input prompt that will ask for the following information:
Like this, you can add multiple prepayments with your EMI calculation.
You can consider multiple prepayment options during Home Loan EMI calculation. This calculator allows recurring repayments and lumpsum or one-time part payments with a single calculation.
Principal Vs. The interest chart lets you measure the prepayment impact during the loan tenure. The higher curves are the pictorial representation of your lumpsum pre/ part payments.