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Say bye to your EMI, years early
Enter your loan, tell us what is true for you, and see the fastest realistic way out — extra payments, a yearly EMI hike, part payments, a bonus lump sum or a balance transfer, alone or combined, ranked by what you save.
Your loan
₹35.00 L
240 months (20 years)
Fine-tune your plan
Your loan as it stands
Only need the plain numbers? Use the EMI calculator.
The path to zero
Freedom date Jan 2041
You are cutting 5y 9m of payments to the bank — instead of Oct 2046.
Interest saved
₹12.96 L
After fees: ₹12.96 L
Time saved
5y 9m
Now closes Jan 2041
Monthly commitment
₹35,930
Base EMI ₹30,930
Total paid
₹61.27 L
Baseline ₹74.23 L
Add a fixed amount to every EMI + Raise your EMI a little every year + Pay one extra instalment every year → close 10y 8m earlier and save ₹21.59 L.
Pay extra every month + Increase EMI every year (salary hike) + Repeating part payment · closes Feb 2036 · monthly ₹35,930
What each move does on its own
Compare every option individually, and see the combined effect if you do all of them together.
| Move | You save | Closes earlier | Monthly |
|---|---|---|---|
| Pay extra every month | ₹12.96 L | 5y 9m | ₹35,930 |
| Increase EMI every year (salary hike) | ₹14.32 L | 7y 10m | ₹30,930 |
| Repeating part payment | ₹10.88 L | 4y 11m | ₹30,930 |
| All of them together | ₹21.59 L | 10y 8m | ₹35,930 |
Suggestions to close your loan sooner
Single moves and every combination of them, ranked by what you actually save after fees.
- Best for you
Add a fixed amount to every EMI + Raise your EMI a little every year + Pay one extra instalment every year → close 10y 8m earlier and save ₹21.59 L.
Pay extra every month + Increase EMI every year (salary hike) + Repeating part payment · closes Feb 2036 · monthly ₹35,930 (higher monthly outgo)
Add a fixed amount to every EMI + Raise your EMI a little every year → close 9y 7m earlier and save ₹19.03 L.
Pay extra every month + Increase EMI every year (salary hike) · closes Mar 2037 · monthly ₹35,930 (higher monthly outgo)
Raise your EMI a little every year + Pay one extra instalment every year → close 9y 2m earlier and save ₹18.01 L.
Increase EMI every year (salary hike) + Repeating part payment · closes Aug 2037 · monthly ₹30,930 (higher monthly outgo)
Add a fixed amount to every EMI + Pay one extra instalment every year → close 8y 2m earlier and save ₹17.99 L.
Pay extra every month + Repeating part payment · closes Aug 2038 · monthly ₹35,930 (higher monthly outgo)
Raise your EMI a little every year → close 7y 10m earlier and save ₹14.32 L.
Increase EMI every year (salary hike) · closes Dec 2038 · monthly ₹30,930 (higher monthly outgo)
Add a fixed amount to every EMI → close 5y 9m earlier and save ₹12.96 L.
Pay extra every month · closes Jan 2041 · monthly ₹35,930 (higher monthly outgo)
Pay one extra instalment every year → close 4y 11m earlier and save ₹10.88 L.
Repeating part payment · closes Nov 2041 · monthly ₹30,930 (no change to your EMI)
Outstanding loan over time
Without any plan vs with your plan
Where your money goes
Principal vs interest with your plan
- Principal
- ₹35.00 L
- Interest
- ₹26.27 L (43% of payout)
Interest vs principal each year
Early years are interest-heavy — that is why prepaying early wins
These results are mathematical estimates. Your lender's EMI, fees, taxes and prepayment charges may differ. Read the full financial disclaimer.
I want to be debt-free in…
To close in 15 years you need to pay about ₹4,051 extra every month — a total monthly outgo of ₹34,981 — which saves ₹11.27 L of interest.
| Year | Interest | Principal | Balance |
|---|---|---|---|
| Year 1 | ₹3,01,117 | ₹1,30,042 | ₹33,69,958 |
| Year 2 | ₹2,89,271 | ₹1,41,888 | ₹32,28,071 |
| Year 3 | ₹2,76,345 | ₹1,54,813 | ₹30,73,257 |
| Year 4 | ₹2,62,242 | ₹1,68,916 | ₹29,04,341 |
| Year 5 | ₹2,46,855 | ₹1,84,304 | ₹27,20,037 |
| Year 6 | ₹2,30,066 | ₹2,01,093 | ₹25,18,945 |
| Year 7 | ₹2,11,747 | ₹2,19,412 | ₹22,99,533 |
| Year 8 | ₹1,91,759 | ₹2,39,399 | ₹20,60,134 |
| Year 9 | ₹1,69,951 | ₹2,61,207 | ₹17,98,926 |
| Year 10 | ₹1,46,156 | ₹2,85,002 | ₹15,13,924 |
| Year 11 | ₹1,20,194 | ₹3,10,965 | ₹12,02,959 |
| Year 12 | ₹91,866 | ₹3,39,292 | ₹8,63,667 |
| Year 13 | ₹60,958 | ₹3,70,201 | ₹4,93,466 |
| Year 14 | ₹27,234 | ₹4,03,924 | ₹89,542 |
| Year 15 | ₹1,185 | ₹89,542 | ₹0 |
Why the total interest matters more than the EMI
Most borrowers only ever see the monthly instalment. But on a 20-year home loan the interest you pay can be larger than the amount you borrowed. Knowing that number is what makes a payoff plan feel worth the effort.
Take ₹35,00,000 at 8.75% for 240 months: the EMI is about ₹30,930, and the interest alone comes to roughly ₹39.23 lakh. Add ₹5,000 to each instalment and the loan closes in about 14 years 3 months, saving close to ₹12.96 lakh. The instalment barely moves; the outcome changes completely.
Five ways to close a loan sooner
- Pay extra every month — the most reliable option, and it works from the very first instalment.
- Increase your EMI every year — raise it with your salary hike; a 5% annual step-up is barely felt.
- Repeating part payments — one extra instalment a year already cuts a long tenure noticeably.
- A one-time bonus or maturity amount — early lump sums remove the most future interest.
- Balance transfer — move to a lower rate and keep the same EMI so the tenure shortens, once the fees are covered.
Prepayment here always reduces the tenure rather than the EMI, because that is where the interest saving comes from.
Frequently asked questions
- How does ByeToEMI suggest a plan?
- You enter your loan and pick the situations that apply to you — a yearly hike, an annual bonus, savings maturing, a high rate or a tight month. We then simulate every matching strategy and every combination of them, and rank them by the money you actually save after fees.
- How much can prepayment actually save?
- On a ₹35 lakh home loan at 8.75% for 20 years, adding ₹5,000 to each EMI saves roughly ₹12.96 lakh of interest and closes the loan about 5 years and 9 months early.
- What if I cannot afford to pay more every month?
- Pick “Money is tight right now” and we only show plans that do not raise your monthly outgo — a bonus or maturity lump sum, or a balance transfer that keeps the same EMI at a lower rate.
- Is ByeToEMI free to use?
- Yes, completely. There is no sign-up, no premium plan and no feature behind a paywall. The site is funded by advertising placed away from the calculator controls.
- Do you store my loan details?
- No. Every calculation runs in your browser, so your loan amount, rate and tenure are never uploaded to a server. Only your light/dark theme preference is saved on your device.
- Is this financial advice?
- No. ByeToEMI gives you indicative calculations and scenarios so you can understand your options. Your lender's figures are final, and your own circumstances decide what is affordable.
Last reviewed: 1 September 2026
ByeToEMI provides indicative calculations for educational and planning purposes. Actual lender calculations, charges, interest-rate changes and repayment schedules may differ. ByeToEMI is not a lender, loan broker or financial advisor.