Loan Amortization Calculator
Get a full loan repayment schedule showing how each EMI splits between principal and interest.
Educational Purpose Only: This calculator provides estimates for informational purposes. Results are not professional financial advice.
How it works
An amortization schedule breaks down every EMI payment into its principal and interest components, month by month. In the early months, most of the EMI goes toward paying interest on the large outstanding balance. As the principal reduces over time, the interest portion shrinks and the principal portion grows — even though the total EMI stays constant throughout the loan tenure.
How to read the schedule
- Opening Balance — the outstanding loan amount at the start of that month
- EMI — your fixed monthly payment
- Interest — the interest charged for that month on the opening balance
- Principal — the portion of EMI that reduces your loan balance
- Closing Balance — the outstanding balance after that month's payment
Saving interest with prepayments
Making even one or two partial prepayments per year can significantly reduce the outstanding principal, which in turn reduces the interest charged on subsequent months. The savings compound over the remaining tenure, often cutting years off your loan and saving lakhs in interest. Use the amortization table to identify the months where your interest component is highest — these are the periods where prepayment has the greatest impact.
This calculator provides indicative figures based on the inputs entered. Actual EMI amounts may vary depending on your lender's specific terms, processing charges, and compounding conventions.