What a prepayment moves.
Put something extra against the principal each month and see what it does to the years.
The figures here are an example to start from, not rates from FinFlot or any lender. Change any of them. Nothing is stored, and nothing is sent anywhere.
- Months it comes off the end
- 81
- Interest that is no longer charged
- ₹ 16,72,135
- The instalment itself
- ₹ 36,836 — unchanged
Indicative only. Actual rates, terms and eligibility come from the lender.
A working you can show.
Open it in front of the customer. The arithmetic is theirs to see; the terms stay the lender's.
An extra payment goes against the principal, so it does not lower the instalment — it shortens the loan. Interest is charged on what is still outstanding, so clearing the balance sooner removes every month of interest that would have been charged after the original end date.
Which is why a small amount, put in early and every month, moves the end date further than a larger amount put in late. Try it on the slider.
FinFlot is not a bank or NBFC and does not lend. The lender decides the loan. Nothing on this page is an offer, a sanction or advice; it is arithmetic on numbers you typed.
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