Pick a style. Pick a strategy. Save more.
Monthly extra, yearly bonus, or one-time lumpsum - and choose to either shorten the loan or shrink the EMI.
Payment style
Strategy
Keep the same EMI; finish the loan earlier. Better total savings.
Interest saved
EMIs saved
New tenure
Adding ₹{} a month
Adding ₹5,000/month saves you ₹12.31 L in interest.
Time freed
You're free of EMIs 4.1 years sooner - keep the cashflow you already had.
Reduce-tenure usually wins on rupees saved
Both strategies cut total interest. But reducing tenure compounds the savings - every avoided month is interest avoided too. Pick "reduce EMI" only if monthly cashflow is the constraint.
Monthly extra - add a small fixed amount to every EMI. Easy to automate, surprisingly powerful over a long tenure.
Yearly part-payment - channel your annual bonus into the loan. One big chunk, once a year, with the same effect as 12 small ones.
One-time lumpsum - a single big prepayment from a windfall (RSU vesting, gift, asset sale). The earlier you do it, the bigger the savings.
Tip: always tell your bank to apply prepayment to principal, not to the next EMI. The forms are usually pre-set correctly, but worth confirming.