8 replies on this article “prepayment of home loan”

1. ashal jauhari says:

   October 9, 2011 at 6:13 am

   Dear Vinayak, For the given situation, your loan term ‘ll come down from original 120 months to 67 months. As you have already paid 2 EMIs, your remaining term ‘ll be 65 months, after prepayment of 5L Rs. in your home loan.

   Thanks

   Ashal

   Reply
   1. Vinayak says:

      October 10, 2011 at 2:14 pm

      Thank You

      Reply
2. Ajay says:

   October 7, 2011 at 1:23 pm

   Vinayak – If you are have MS excel then you can use this template

   http://office.microsoft.com/en-us/templates/results.aspx?ck=1&ex=2&qu=amortization&av=all#ai:TC010073881|

   Reply
3. Anand says:

   October 7, 2011 at 11:55 am

   Use the calculators at bankbazaar.com

   Reply
   1. Vinayak says:

      October 7, 2011 at 12:16 pm

      Thank You Manish & Anand for your Valuable suggestions.

      Reply
4. Vinayak says:

   October 7, 2011 at 10:16 am

   Thanks manish.
   This is a very good article to explain how Loan Amortization.

   Is there any calculation (or Calculator) to explain by how much loan term come down if I prepay 5 Lakhs? I only paid 2 EMI’s as of now.

   Reply
   1. Manish Chauhan says:

      October 7, 2011 at 10:19 am

      Vinayak

      You can use the same calculator for that .. after prepayment the loan outstanding will come down by 5 lacs , so just punch in the new numbers and see the new EMI

      Reply
5. Manish Chauhan says:

   October 6, 2011 at 7:41 pm

   Vinayak

   It would be good if you can prepay your loan by 5 lac .. your tenure of loan will drastically come down , read more on https://www.jagoinvestor.com/2011/04/loan-amortization-emi.html

   Reply

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