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Close your loan sooner
Tell us your loan and your situation, then fine-tune the plans you can realistically afford. Every combination is ranked by the interest saved, the time saved and the new closing date.
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 |
Assumptions used in these scenarios
- Extra monthly amounts are added to every instalment from month 1 and reduce the principal immediately.
- An annual EMI increase is applied on the anniversary of the first EMI (month 13, 25, and so on).
- Repeating part payments are made in the month you choose and then every N months after it.
- A lump sum is applied in the month you name, after that month's EMI.
- A balance transfer here keeps your current EMI, so the tenure shortens; fees are counted as a cost and never added to the principal.
- Prepayment always reduces the tenure, not the EMI, because that saves more interest.
These are calculations and scenarios, not personalised financial advice. Keep an emergency fund before committing surplus cash to prepayment.
Frequently asked questions
- Which prepayment method saves the most?
- For most borrowers a fixed extra amount every month wins, because it works from the very first instalment when the interest share is highest. A large one-time lump sum early can beat it; small lump sums late in the tenure save the least.
- Should prepayment reduce my EMI or my tenure?
- Reducing the tenure saves much more interest. Reducing the EMI eases monthly cash flow but keeps you in the loan for the original term, so you keep paying interest for longer.
- Can I combine several strategies?
- Yes, and this page ranks every combination by net interest saved after fees. Combining an annual EMI increase with a yearly part payment from your bonus is a common and effective pairing.
- Are there charges for prepaying?
- Floating-rate loans to individual borrowers generally have no prepayment charge, but fixed-rate loans, personal loans and business loans often carry 2–5% of the outstanding amount. Check your sanction letter before making a lump-sum payment.
- Should I prepay or invest the money instead?
- Compare your loan rate with the return you can reliably earn after tax. Prepaying a 14% personal loan is almost always better than investing; on an 8.5% home loan the answer depends on your risk appetite and tax position.
- Is this financial advice?
- No. These are indicative calculations to help you understand the maths. Affordability, emergency savings and your own tax position should decide how much you actually prepay.
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.