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Paying half the monthly instalment every two weeks makes 26 payments a year — the equivalent of 13 monthly instalments. That extra payment plus the shorter interest accrual between payments cuts years off a long loan.
Biweekly schedule
Payment = EMI/2 every 14 days; 26 payments a year = 13 monthly equivalents
Figures are estimates. Lenders apply their own rounding, fees and eligibility rules, and rates change. This is not financial advice — confirm the numbers with your lender.
Mostly from the extra thirteenth monthly payment each year, and a little from interest accruing on a balance that falls sooner.
Not all. Some hold half payments until a full instalment accumulates, which removes most of the benefit.