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Pay off your loan sooner
Pick a goal. See the amount and the interest saved.
Extra payments go to principal. Check that your lender applies them to the loan and does not charge for it. RBI bars prepayment charges on floating-rate home loans for individuals from 1 Jan 2026.
Common questions
Is it better to prepay or invest?
If your loan rate is higher than what you can safely earn after tax, prepaying is the sure gain. This is general information, not financial advice.
Is there a penalty for part prepayment?
Not on floating rate home loans taken by individuals. RBI bars the charge. Fixed rate loans may carry one.