Is there any penalty on prepaying floating rate home loans?

2025–2026 RBI & Tax Compliant

Home Loan Prepayment Calculator

Calculate interest saved and how many years you can shave off your loan by making partial extra payments.

Input Parameters

Outstanding Loan Amount (₹) ₹4,500,000

₹

Interest Rate (% p.a.) 8.5 %

Remaining Tenure (Years) 18 Yrs

Yrs

Extra Monthly Prepayment (₹) ₹5,000

₹

Or Lump-Sum Annual Prepayment (₹) ₹50,000

₹

ESTIMATED RESULT

—

Updated dynamically

Want Full Breakdown & PDF Report?

Get detailed month-by-month breakdowns, tax saving calculations & offline access on your phone.

Download on Google Play

Yearly Amortization Schedule

Full Schedule Locked

Year	Opening Balance	EMI Paid	Principal Paid	Interest Paid	Closing Balance

Unlock Full Amortization & PDF Report

Download the official PropertyCalc mobile app to view the complete year-by-year and month-by-month principal vs interest repayment schedule, tax deduction summaries (80C & 24b), and export PDF reports offline.

OFFICIAL ANDROID APP

Download on Google Play

Current Home Loan Rates in India (2026)

Compare live floating home loan interest rates and processing fees from top Indian lenders:

Bank / Lender	Interest Rate (% p.a.)	Processing Fee
State Bank of India (SBI)	8.50% – 9.65%	0.35% of loan amount (Min ₹2,000, Max ₹10,000) + GST
HDFC Bank	8.70% – 9.80%	0.50% of loan amount or ₹3,000 (whichever is higher) + GST
ICICI Bank	8.75% – 9.75%	0.50% - 1.00% of loan amount + GST
Axis Bank	8.75% – 9.65%	Up to 1% of loan amount (Min ₹10,000) + GST
Bank of Baroda	8.40% – 10.60%	NIL (under festive offer) / 0.25% + GST
Punjab National Bank (PNB)	8.45% – 10.25%	0.35% of loan amount (Min ₹2,500, Max ₹15,000) + GST

Frequently Asked Questions

No. Under RBI regulations, all scheduled commercial banks and NBFCs are prohibited from levying prepayment or foreclosure charges on floating interest rate home loans taken by individuals.