Loan Calculator with Extra Payments – Save Lakhs on Interest!

Are you tired of paying high interest on your loan? What if I told you a simple trick could save you lakhs and help you become debt-free faster? Paying any amount you save towards a loan as extra payments is a genius strategy. That is why I have created a Loan Calculator with Extra Payments.

Extra Payments to a Loan or Invest? Which is best for you?

I Never say don’t take loans, it’s a bad idea. Everybody has gone through tough times to fulfill their emergency needs. After taking a loan at any point in time we regret that we have to start investing. But, every month EMI burden pulls back us from investing. Here is a thought that strikes our mind whether to invest money you saved or pay towards a loan as extra payments.

Here are the important points to remember if you are saving some money and want to Pay Extra Payments to a Loan or to Invest.

Pay Extra Money towards Loan, If:

• You don’t have any emergency fund.
• You do not have an aggressive investing mindset.
• You believe clearing a loan gives you immense relief in your mind.

Invest Your Money, If:

• Have an emergency fund.
• You have an aggressive investing mindset.
• You feel having an EMI doesn’t discourage you from saving and investing.

How Extra Payments Can Save You Lakhs!

✅ Most people stick to their EMI schedule without realizing a simple trick:

• It also shortens your loan tenure.
• Paying a little extra each month drastically lowers interest.

Here’s how it works:

✅ Your EMI consists of principal + interest
✅ In the early years, a major chunk goes towards interest payments
✅ By paying extra, you reduce the principal faster, leading to less interest accumulation

Here is my final thought before you decide. Let us assume you have a personal loan of ₹ 9,00,000 for 6 years left with an interest rate of 12%. By paying ₹20,000 per month extra apart from EMI you can save ₹1,76,000 on interest and loan tenure from 5 years to 2 years 2 months. It sounds great! right.

Use Our Loan Calculator with Extra Payments!

I built a powerful, easy-to-use calculator to help you see exactly how much you can save by making extra payments.

👉 Just enter:
✔ Loan amount left
✔ Interest rate
✔ Remaining tenure
✔ Extra amount you can pay each month

Hit “Calculate” and see your results instantly!

How to Use This Calculator?

1️⃣ Enter the remaining loan balance.
2️⃣ Input your current interest rate and remaining tenure.
3️⃣ Add the extra amount you plan to pay every month.
4️⃣ Click “Calculate” and see how much you’ll save!

📌 Bonus Tip: Even a small extra payment makes a big difference. Try different amounts and see how they impact your savings!

Final Thoughts: Take Control of Your Loan Today!

Every rupee saved on interest is your money working for you! Don’t let the banks profit off your loan for years—take charge today!

💡 Use the Loan Calculator Now and make an informed financial decision. Start saving lakhs and become debt-free faster! 🚀💸

🔥 Ready to See Your Savings? Try the Calculator Below!

I am sure this calculator worked for you. What are you thinking now? What If you have a lumpsum amount and you want to reduce your principal by paying a Prepayment amount? There You go I am on the way to creating a Loan Prepayment Calculator. I am exciting to send you the Loan Prepayment Calculator at the earliest. All you need to do is to subscribe to my newsletter. You will get notified about all the calculators I am creating.