Home Loan EMI & Prepayment Calculator
Plan prepayments, rate changes and the real interest you'll save
Indicative only. On a floating-rate loan, a rate change here recomputes the EMI for the remaining balance and term. Prepayments have no penalty on floating-rate home loans in India. Confirm exact figures with your lender.
Tax: home-loan tax breaks exist only in the old regime for a self-occupied house — up to ₹2L/yr of interest under §24(b) and up to ₹1.5L/yr of principal within the shared 80C bucket (the 80C limit is shared with PPF, ELSS, insurance etc., so the principal benefit is often already used up). The new regime gives no deduction for a self-occupied home. A let-out property is different: the full interest is deductible against rent in both regimes, with loss set-off against other income capped at ₹2L/yr (old regime only; excess carries forward). The tax-benefit box uses year-1 figures — interest falls each year, so the §24(b) benefit shrinks over the tenure. Prepaying reduces interest, which also reduces this deduction: the savings box above is the gross figure, and your net saving is a little lower if you were claiming 24(b).