Loan Amortization Calculator
Generate a complete month-by-month or year-by-year amortization schedule for your loan with EMI dates.
What is the Loan Amortization Calculator?
An amortization schedule lists every EMI with its split between principal and interest and the balance remaining afterwards.
How does it work?
For each month, interest = outstanding balance × monthly rate, principal = EMI − interest, and the new balance = old balance − principal. The final instalment is adjusted to close out rounding differences.
Formula
Interest_m = Balance_(m−1) × r
Principal_m = EMI − Interest_m
Balance_m = Balance_(m−1) − Principal_m
Example
For ₹20 lakh at 9% for 10 years, the first EMI of ₹25,335 contains ₹15,000 interest and ₹10,335 principal. By the last year, most of each EMI goes to principal.
Frequently asked questions
Why is so much of the early EMI interest?
Interest is charged on the outstanding balance, which is highest at the start. As principal is repaid, the interest portion falls.
Can I use this for tax planning?
Yes. The yearly view shows principal and interest paid each year, which is useful for Section 80C and 24(b) claims under the old regime. Match years to your EMI start date.
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