लोन प्रीपेमेंट कैलकुलेटर कैसे काम करता है
A part-prepayment reduces your outstanding principal. You can either keep the EMI and finish the loan earlier (bigger interest saving) or keep the tenure and lower the EMI.
Prepayments made early in the loan save the most because interest is charged on the outstanding balance. Floating-rate home loans to individuals usually have no prepayment penalty in India.