If you pay more than the fixed EMI for your home loan, the extra money will be considered a prepayment on the loan. The excess amount will be deducted from your principal amount, and your subsequent EMIs will be adjusted accordingly. You may also pay prepayment charges depending on the excess amount paid. It is advised to refer to thehome loan amortization scheduleor use ahome loan EMI calculatorto understand your EMIs and avoid over or underpaying.