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Home Loan Part Payment Calculator
See how a part payment or extra EMI closes a home loan sooner, the payoff plan, and how much interest you still pay.
Last updated 2026-09-18
This keeps your contracted EMI and shortens tenure. Banks usually apply extra to principal. Check if your floating-rate home loan has a foreclosure fee — many do not.
Loan closes in
15 yrs 7 mo
Instead of 20 yrs
Interest you still pay
₹40,24,629
Avoid ₹13,89,250
Monthly outgo now
₹48,391
EMI ₹43,391 + extra ₹5,000
Time saved
4 yrs 5 mo
53 months earlier
Pay ₹48,391 a month. The extra goes to principal, so later months charge less interest. You still pay ₹40,24,629 interest — ₹13,89,250 less than the original plan.
Original plan vs extra-EMI plan
Same loan, tenure cut by sending extra to principal.
| If you pay only EMI | With extra | |
|---|---|---|
| Monthly EMI | ₹43,391 | ₹43,391 |
| Extra each month | — | ₹5,000 |
| Tenure | 20 yrs | 15 yrs 7 mo |
| Interest payable | ₹54,13,879 | ₹40,24,629 |
| Total you pay | ₹1,04,13,879 | ₹90,24,629 |
Full payoff plan
Year-by-year is easier to scan. Switch to months for the bank-style schedule.
| Year | Paid | Extra | Principal | Interest | Balance left |
|---|---|---|---|---|---|
| 1 | ₹5,80,694 | ₹60,000 | ₹1,61,905 | ₹4,18,789 | ₹48,38,095 |
| 2 | ₹5,80,694 | ₹60,000 | ₹1,76,216 | ₹4,04,478 | ₹46,61,879 |
| 3 | ₹5,80,694 | ₹60,000 | ₹1,91,792 | ₹3,88,902 | ₹44,70,087 |
| 4 | ₹5,80,694 | ₹60,000 | ₹2,08,745 | ₹3,71,949 | ₹42,61,343 |
| 5 | ₹5,80,694 | ₹60,000 | ₹2,27,196 | ₹3,53,498 | ₹40,34,147 |
| 6 | ₹5,80,694 | ₹60,000 | ₹2,47,278 | ₹3,33,416 | ₹37,86,869 |
| 7 | ₹5,80,694 | ₹60,000 | ₹2,69,135 | ₹3,11,559 | ₹35,17,735 |
| 8 | ₹5,80,694 | ₹60,000 | ₹2,92,924 | ₹2,87,770 | ₹32,24,811 |
| 9 | ₹5,80,694 | ₹60,000 | ₹3,18,816 | ₹2,61,878 | ₹29,05,995 |
| 10 | ₹5,80,694 | ₹60,000 | ₹3,46,996 | ₹2,33,698 | ₹25,58,999 |
| 11 | ₹5,80,694 | ₹60,000 | ₹3,77,667 | ₹2,03,027 | ₹21,81,332 |
| 12 | ₹5,80,694 | ₹60,000 | ₹4,11,050 | ₹1,69,644 | ₹17,70,282 |
| 13 | ₹5,80,694 | ₹60,000 | ₹4,47,383 | ₹1,33,311 | ₹13,22,899 |
| 14 | ₹5,80,694 | ₹60,000 | ₹4,86,927 | ₹93,767 | ₹8,35,972 |
| 15 | ₹5,80,694 | ₹60,000 | ₹5,29,967 | ₹50,727 | ₹3,06,005 |
| 16 | ₹3,14,220 | ₹30,000 | ₹3,06,005 | ₹8,215 | ₹0 |
Start from your home loan EMI if you do not know the monthly instalment yet.
How it works
The contracted EMI is unchanged. Extra rupees (monthly or one extra EMI a year) go to principal. Next month’s interest is charged on a smaller balance, so the loan ends when balance hits zero.
How to use this calculator
- Enter the inputs shown above (amount, rate, tenure, income, or other fields).
- Read the live results — they update as you type.
- Check the formula, worked example, and assumptions on this page before you decide.
Formula
The contracted EMI is unchanged. Extra rupees (monthly or one extra EMI a year) go to principal. Next month’s interest is charged on a smaller balance, so the loan ends when balance hits zero.
Worked example
A ₹50 lakh loan at 8.5% for 20 years has EMI ≈ ₹43,391. Adding ₹5,000 extra every month can cut several years and a large share of the original interest.
Reading the result
Treat the output as a planning figure. Compare it with your sanction letter, payslip, or GST invoice rather than treating it as a filing or a loan offer.
Read the full guideSee also: calculation methodology and disclaimer.
Frequently asked questions
Interest is charged only on the outstanding principal. Extra payment reduces that principal immediately, so later EMIs contain less interest and more principal. Tenure falls if the EMI amount stays the same.
Assumptions and limits
- This is a planning estimate. Your lender, employer, or tax officer may use different inputs or rounding.
Results are educational estimates, not tax, legal, investment, or medical advice, and not a loan offer. Verify filings and payments with the official authority or a qualified professional.
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