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Loan Amortization Schedule

Generate complete month-by-month loan repayment schedule

Loan Details

Enter loan details and click Generate Schedule

Monthly EMI

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Total Interest

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Principal

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Total Payment

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Amortization Schedule

#DateEMIPrincipalInterestBalance

How to Use

  1. Loan Amount — enter the principal borrowed.
  2. Interest Rate — annual rate as offered by your bank.
  3. Tenure — loan duration in months or years.
  4. Start Date — EMI start date for accurate calendar-month scheduling.
  5. View Schedule — the full amortization table shows: EMI number, date, opening balance, EMI amount, principal component, interest component, and closing balance.

What is a Loan Amortization Schedule?

A loan amortization schedule is a complete table of all loan payments over the loan tenure, showing how each EMI is split between repaying the principal and paying interest. Unlike a basic EMI calculator which gives you just the monthly amount, the amortization schedule reveals the full repayment story.

The Amortization Paradox

In the early months of a loan, the vast majority of each EMI goes toward interest — not principal. This is counterintuitive but mathematically certain. On a ₹50L home loan at 8.5% for 20 years:

  • Month 1 EMI: ₹43,391 = ₹7,224 principal + ₹35,417 interest
  • Month 120 (Year 10): ₹43,391 = ₹15,891 principal + ₹27,500 interest
  • Month 240 (final): ₹43,391 = ₹43,086 principal + ₹305 interest

This is why prepaying a loan in the first 5 years is so powerful — you eliminate years of high-interest payments.

How to Use the Amortization Schedule for Planning

Part-prepayment decisions: Find the outstanding principal at the point you plan to make a prepayment. Model the remaining tenure or reduced EMI after prepayment.

Balance transfer timing: The amortization table shows the outstanding principal at any point — the exact figure you need when approaching a new lender for a balance transfer.

Tax deduction tracking: Section 24B allows deduction of up to ₹2,00,000 on home loan interest per year. The amortization schedule gives you the exact interest paid each financial year.

Frequently Asked Questions

This is how reducing-balance (amortizing) loans work. Interest is charged on the outstanding balance each month. In the first month, the entire loan amount is outstanding, so interest is maximum. As the principal reduces month by month, so does the interest component. This is why prepayment in the first few years saves much more interest than the same prepayment later.

Three strategies: (1) Part-prepayment — even ₹50,000–₹1L annually can save 3–5 years of tenure and lakhs in interest on a home loan. (2) EMI increase — if your salary grows, increase your EMI by 5–10% annually. (3) Balance transfer — if another bank offers 0.5%+ lower rate, refinancing can save significantly on long-tenure loans. The amortization schedule helps you see the exact impact.

Foreclosure amount = outstanding principal balance + any applicable foreclosure charges. The outstanding principal at any month is shown in the 'Balance' column of the amortization table. RBI guidelines mandate that floating-rate home loans from banks have zero prepayment penalty. Fixed-rate loans and loans from NBFCs may have a 2–4% foreclosure charge.

A missed EMI typically results in: (1) the missed amount added to the next EMI, (2) penal interest charged on the missed amount (1–2% per month), and (3) potential negative credit score impact. Most banks allow a grace period of 3–5 days. Some banks restructure the loan — adding missed EMIs to the end of tenure. Contact your bank immediately if you anticipate missing a payment.

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