Become debt-free, faster.
Pick a future month, add the penalty, and see exactly what closing your loan early would save you.
Payoff amount
Net savings
Years saved
Debt-free milestone
You save ₹33,15,923 in interest
and close your loan 15.0 years earlier - that's 15 yr of EMI freedom.
Interest avoided
You'd have paid ₹34.04 L more in interest if you continued to term.
Penalty cost
Foreclosure penalty: ₹88,127 (2% of remaining principal).
Time freed
You're free of EMI obligations 15.0 years sooner.
What to do next
Redirect the freed-up EMI (₹43.4 K) into a SIP - your money keeps working for you.
1. Penalty is small or zero. RBI rules disallow foreclosure penalties on floating-rate retail home loans. Fixed-rate home loans and most personal loans do charge - typically 1–4%.
2. You have surplus funds. Don't break your emergency fund or your equity SIP for foreclosure. Use bonus, RSU vesting or maturing FDs.
3. Loan rate > expected returns. If your effective loan rate (after tax) is higher than what you'd earn on safe investments, foreclosure wins. Equity may still beat it long-term - but with risk.