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