Yes, you can pay your home loan early. This is called prepayment or foreclosure, and it helps reduce your loan burden. By paying early, you save money on interest, shorten your loan term, and become debt-free faster. When you use a home loan interest rate EMI calculator, you can clearly see how your monthly payments and interest change if you prepay. Many people don’t realize how much interest they can save by simply making one or two extra payments every year. This is why using a home loan interest rate EMI calculator before and after prepayment is helpful. Some banks may charge a small fee for early payment, especially if your loan has a fixed rate. But most home loan interest rate EMI calculators online can show whether it's still worth it. If your loan is on a floating rate, most lenders do not charge a penalty. Always use a home loan interest rate EMI calculator to check: