Home Loan Prepayment · Section 24(b) Tax · Indian Bank Rates
PrepayPlanner tells you exactly how much to prepay, when to prepay, and how much tax you keep — month by month. Works offline. No app. No subscription. One Excel file.
If you have a loan and you've wondered "should I prepay or invest?" — this is for you.
Every sheet is connected. Change a prepayment amount in one place — the tax saving, interest saved, and net worth all update across the file instantly.
Net Worth, Loan Balance, and Net Position in one view. Asset breakdown donut chart, loan progress, and 3D net worth trend — live from your data.
Log savings, FDs, ETFs, property, and investments row by row. 120 months (10 years) pre-built. Enter one row a month — everything updates.
Enter principal, tenure, and start date once. Indian Bank's rate reset history (8.5% → 7.65%) built in. Works for any Indian bank — just edit the rate table.
360 months of what you pay with zero prepayment. This is your comparison baseline. Everything else is measured against it.
Enter any prepayment in any month. Toggle between Reduce Tenure or Reduce EMI. The interest saved and years cut update live.
Total interest saved. Tenure cut. A what-if calculator: "If I want to close in 10 years, what do I need to pay each month?"
FY-wise table: interest paid, ₹2L cap, ₹60K tax saved at 30% slab. Shows exactly how much you can prepay before you lose the benefit — for both scenarios.
Export everything in two columns. When a new version of PrepayPlanner is released, paste them in — your full 10-year history reappears in seconds.
No learning curve. If you can use Excel, you can use PrepayPlanner.
Enter principal, tenure, start date. Your bank's rate history is already there. Took 2 minutes for our testers.
One row per month — savings, FDs, ETFs, property value. The Dashboard updates the moment you press Enter.
Type any number into any month's prepayment column. See interest saved and years cut — instantly, no recalculation button.
The Tax sheet tells you which financial year you start losing the ₹2L benefit — and the safe maximum you can prepay before that.
No subscription. No account. No app. Download once, use on any laptop.
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Yes. The Indian Bank rate history is pre-filled because it was the first request — but you can edit the interest rate table to match any bank's rate reset dates and percentages. The calculations work identically for any Indian home loan on the monthly reducing balance method.
Completely. There is no upper limit on the principal amount. The amortization, tax, and prepayment sheets handle any loan size. Metro loans typically run 20–25 years, and the file models all 30 years (360 months) to cover any scenario.
Each co-borrower can claim up to ₹2L deduction individually under Section 24(b), provided both are co-owners. The file calculates total interest paid — you and your CA can then split the claim between co-borrowers based on ownership ratio. The file doesn't split it automatically, but gives you the exact total interest per financial year.
Section 24(b) applies only under the old tax regime. If you're on the new regime, the tax sheet won't be relevant for you — but all the prepayment analysis, amortization, and net worth tracker work perfectly regardless of your tax regime choice.
Never. The file has no macros, no internet connections, and no data-sending code — it's a plain .xlsx file with formulas only. It cannot send data anywhere even if it wanted to. Your loan amount, income, assets — everything stays on your laptop.
The Data Backup sheet exports everything you've entered into two columns. You paste that into the Import sheet of the new version, and all your history reappears. You never start from scratch.
Works on Microsoft Excel for Mac (2016 onwards) and LibreOffice Calc on any platform. Google Sheets has limited support for some formulas used — it may work partially but is not guaranteed. Excel is recommended for full functionality.