About the Amortization Schedule Calculator
What is the Amortization Schedule Calculator?
An amortization schedule is the table showing how each EMI is split between interest and principal, and how the balance falls over the life of the loan. It explains why prepaying early saves so much and helps you plan tax claims.
Enter the loan amount, rate and tenure and choose a yearly or monthly view. The calculator also shows your EMI, total interest, the first year's interest and principal, and when half the loan will have been repaid.
How to use the Amortization Schedule Calculator
- Loan Amount (₹) (sample: 20,00,000)
- Interest Rate (% per year) (sample: 8.5)
- Tenure (years) (sample: 10)
- Schedule View (sample: Year by year)
- Press Generate Schedule (results also refresh as you type). The result card shows the Monthly EMI, along with Total interest, Interest in year 1, Principal repaid in year 1 and Half the loan is repaid after.
Formula used
EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
- P = the loan amount
- r = the monthly interest rate = annual rate ÷ 12 ÷ 100
- n = the number of monthly instalments
Each month, interest = outstanding balance × r and the rest of the EMI repays principal, so interest falls and principal repayment rises over time.
Worked example
These are the sample values already filled in the calculator above, and the result it returns for them:
| Input | Sample value |
|---|---|
| Loan Amount (₹) | 20,00,000 |
| Interest Rate (% per year) | 8.5 |
| Tenure (years) | 10 |
| Schedule View | Year by year |
| Result | Value |
|---|---|
| Monthly EMI | ₹24,797 |
| Total interest | ₹9,75,657 |
| Interest in year 1 | ₹1,64,911 |
| Principal repaid in year 1 | ₹1,32,655 |
| Half the loan is repaid after | 6y 1m |
Tips for using the Amortization Schedule Calculator
- Use the monthly view to match your bank's statement; the yearly view for tax planning.
- The balance falls slowly at first — on a 20-year loan, half the principal is typically repaid only after about 14 years.
- A prepayment early in the schedule removes years of interest.