Monthly schedule (up to 360 months) with a prepayment box on every row. Change any input or enter a prepayment in any month; the schedule, payoff, charts and savings recompute instantly. The same prepayment plan applies to both loan types for a fair comparison.
| Step-up | Flat | |
|---|---|---|
| First-year EMI | ||
| Final-year EMI | ||
| Total interest (with prepay) | ||
| Interest saved by prepaying | ||
| Loan closes in |
| Month | Yr | Opening | EMI | Interest | Principal | Prepayment | Closing | Cum interest | Saved |
|---|
Prepayment is modeled as tenure reduction: the EMI schedule is unchanged and the loan finishes earlier, which saves the most interest. "Saved" is measured against the same loan with no prepayments. A step-up Year-1 EMI below the first month's interest means negative amortization (balance rises early) - lower the step-up % or tenure to avoid it. Floating-rate home loans to individuals carry no prepayment penalty under current RBI rules; fixed-rate loans may. Not financial advice.