Part-payment and tenure reduction calculator

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Regular or one-off part-payments on top of the EMI: how many months they cut and how much interest they save.

The rate offered to you. Finobazaar does not fill in a lender's rate.

One-off part-payments (optional)

Part-payment 1

Part-payment 2

Part-payment 3

Numbers only; commas are fine. Tenure up to 40 years (480 months).

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Small extra payments, big effect

Paying a little more with every EMI, once a year (for example from a bonus) or as one-off amounts reduces the principal earlier, so less interest is charged in every month that follows. The EMI stays the same and the loan ends sooner.

Each part-payment is taken off the balance in the month it is paid

Reading the result

The result shows how many EMIs sooner the loan ends, the interest saved and the new schedule, with each extra payment marked. The yearly extra starts with the EMI number you choose and repeats every 12 EMIs.

Check your loan terms

Some lenders accept part-payments only at set times, set a minimum amount, or charge for them on fixed-rate loans. The calculator assumes the rate stays the same.

Results are worked out from the numbers you enter and are for planning only. They are not an offer, an approval or financial advice. Finobazaar does not assume any lender's rate or rules; the lender's loan agreement and its key fact statement decide the actual EMI and charges.

Frequently asked questions

Which formula does the part-payment and tenure reduction calculator use?

Each part-payment is taken off the balance in the month it is paid
The explanation below the calculator sets out each step and what the result leaves out.

What details do I need for the part-payment and tenure reduction calculator?

You need: loan amount, interest rate and tenure. Optional: extra paid with every EMI, extra paid once a year, first yearly extra with EMI number and one-off part-payments. Take the figures from the lender's offer or key fact statement where you have one.

Does the calculator use a bank's interest rate?

No. You enter the rate offered to you. Finobazaar does not fill in a lender's rate, because rates depend on the lender, your profile and the date.

Is the result a loan offer or an approval?

Results are worked out from the numbers you enter and are for planning only. They are not an offer, an approval or financial advice. Finobazaar does not assume any lender's rate or rules; the lender's loan agreement and its key fact statement decide the actual EMI and charges.

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