How much interest can one save by paying one extra home loan EMI a year?

Paying one extra EMI annually on a ₹50 lakh home loan at an 8.5% interest rate over a 20-year tenure can significantly reduce overall debt, NDTV Profit reported. By making 13 monthly payments a year instead of 12, borrowers can save around ₹1.87 lakh in interest. This would also help the borrower repay their loan about five months earlier.