Multiple Loan Payoff & Prepayment Calculator

It puts up to four loans in one place and estimates how long they may take to finish from today.

Then it compares three ways to direct the same extra money: highest interest rate first, smallest balance first, and the order you entered. You can see the estimated interest left, the time until all loans are cleared and which loan closes first.

Use the current outstanding balance, current annual interest rate and current monthly EMI for each loan. These numbers are usually more useful here than the original loan amount because this calculator starts from today.

If a rate has recently changed, use the rate that applies now. The calculation keeps that rate unchanged, so you can come back and calculate again if the lender changes it later.

Normal EMIs continue on every loan. Any lump sum, extra monthly amount and EMI freed after another loan closes are directed to the active loan with the highest interest rate.

The calculator shows the mathematical result of that ordering. It does not tell you that this is the right choice for your personal situation.

Normal EMIs continue on every loan, but extra money first goes to the active loan with the smallest remaining balance.

This can close one loan sooner and free its EMI earlier. Depending on the balances, rates and EMIs, total interest can be different from the highest-rate-first path.

It uses the order in which your loans appear in the calculator. Use the ↑ and ↓ buttons before calculating if you want to test another sequence.

This is useful when you want to see the numbers for your own payoff plan instead of only the two standard comparison methods.

For the three payoff paths, the EMI of a closed loan is added to the payment going toward the next loan from the following month.

That means the total monthly debt payment does not automatically fall after the first loan closes. The same cash flow keeps working on the remaining loans until all of them are cleared.

The calculator works month by month. Each loan first gets one month of interest using the annual rate you entered divided by 12. Then the normal EMI is paid. After that, the extra monthly amount is directed according to the payoff path.

A one-time amount entered as available now is applied before the first monthly cycle. This is a simplified loan model. A lender can calculate interest using daily balances, different reset dates or other product-specific rules.

Actual loans can use daily interest, different EMI dates, floating-rate resets, part-payment dates, fees or other rules. Some lenders may also change the EMI or tenure after a prepayment.

This calculator is meant to show the direction and approximate rupee impact of different payoff paths, not reproduce a lender statement to the last rupee.

No. Prepayment or foreclosure rules can depend on the loan type, lender and agreement. Tax treatment can also depend on how the loan was used and the rules that apply to you.

Those items are intentionally left out rather than using one flat assumption for every loan. Check the current terms of your own loan before acting on a calculation.

If the EMI is not even enough to cover one month of interest at the balance and rate you entered, the loan balance would not reduce in this simple model.

That usually means one of the numbers needs to be checked, so the calculator stops instead of showing a misleading payoff date.

This tool compares loan-payment mathematics. It does not know your emergency fund, job stability, insurance needs, tax position, loan restrictions or other financial goals.

A path that uses less interest is not automatically the right personal choice. A path that closes one EMI earlier is also not automatically better. Use the calculator to understand the trade-off, then check the terms of your own loans.

The calculation runs in your browser. No phone number, email, PAN, bank login or loan account number is needed.