Loan Details
Savings Summary
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Total Interest Saved
Monthly EMI---
Without Prepayment
Total Interest---
Tenure---
With Prepayment
Total Interest---
New Tenure---
Months Reduced---
Calculate interest saved with loan prepayment
When you make extra payments on a loan, the additional amount goes directly toward reducing the principal. Since interest is calculated on the outstanding principal, a lower principal means less interest accrues each month, creating a compounding savings effect.