Prepaying your home loan means paying extra money toward your loan before the scheduled EMI dates. This can reduce your loan burden significantly. Here’s how: When you make a prepayment, your bank uses that amount to lower the outstanding loan balance. As a result, the total interest you pay over the loan term decreases. You can either reduce your loan tenure (finish the loan earlier) or reduce your EMI (monthly payment). Most people choose to reduce the loan term because it saves more on interest. If you're planning a prepayment, use a home loan interest rate EMI calculator to see how it will impact your EMI and interest. For example, if your home loan is ₹25 lakhs at a 9% interest rate for 20 years, prepaying ₹1 lakh could save you thousands in interest. By using a home loan interest rate EMI calculator, you can check: How much your EMI will change after prepayment How many months you can cut from your loan term How much total interest you can save A home loan interest rate EMI calculator helps you make smart decisions based on your financial goals. In short, prepayments help reduce your home loan burden and can save a lot in interest. Always check the impact using a reliable home loan interest rate EMI calculator before making a decision.