Loan Amortisation Schedule Calculator
Generate a clear monthly or yearly loan amortisation schedule. See how each payment is split between principal and interest, track the remaining balance, and test the effect of an extra monthly payment.
Last Updated: July 23, 2026
Build Your Repayment Schedule
Use the interest rate and term shown in your current lender offer or account statement. This calculator models a fixed-rate, reducing-balance loan with monthly payments.
| Year | Payment | Principal | Interest | Balance |
|---|
Results are estimates. Lenders may use different compounding, daily interest, payment dates, rounding rules, fees, rate-reset terms or payment-allocation policies.
How to Use This Calculator
- Enter the loan amount you expect to borrow or the current principal balance you want to model.
- Use the annual interest rate from the latest offer, sanction letter, loan agreement or statement. A headline starting rate is not always the rate that applies to your loan.
- Enter the loan term. For example, enter 20 for a 20-year home loan or 5 for a five-year vehicle loan.
- Add an optional extra monthly payment to estimate an accelerated payoff. Confirm with the lender that additional money is credited to principal and does not simply advance the next due date.
- Choose a currency and the first payment month, then switch between the monthly table for detail and the yearly table for a faster overview.
The result shows the regular EMI before extra payments, the planned payment with your extra amount, total interest for that scenario and the estimated payoff period. The final payment can be smaller than the regular monthly payment because it clears the remaining balance.
What Is a Loan Amortisation Schedule?
A loan amortisation schedule, also called an amortization table or EMI repayment schedule, is a payment-by-payment record of an instalment loan. It shows the payment amount, how much reduces the debt principal, how much pays interest and what balance remains after each payment.
On a standard fixed-rate repayment loan, the scheduled EMI generally stays level while its composition changes. At the beginning, interest is charged on a larger outstanding balance, so interest usually takes a bigger share of the payment. As the balance falls, the interest portion declines and more of the same EMI goes toward principal. This is normal amortisation; it does not mean the lender is changing the rate.
The schedule is useful before borrowing and after the loan starts. Before borrowing, it helps you compare a shorter term with a lower monthly commitment over a longer term. After borrowing, it helps you estimate the likely impact of a principal prepayment, refinance or sale date. For a broader payment estimate, visit the Universal Loan Calculator; for a quick instalment-only result, use the EMI Calculator.
Loan Amortisation Formula and Worked Example
For a fixed-rate monthly repayment loan, the calculator uses the standard payment formula:
P = principal borrowed | r = monthly interest rate (annual rate ÷ 12) | n = total number of monthly payments
Suppose you borrow ₹30,00,000 for 20 years at a fixed 8.50% annual rate. The monthly rate is 8.50% ÷ 12, or about 0.7083%. With 240 scheduled payments, the estimated EMI is about ₹26,035. If the rate remains unchanged and there are no extra payments, the estimated total repaid is about ₹62,48,327, including about ₹32,48,327 in interest.
In the first month, interest is approximately ₹21,250. Around ₹4,785 of the EMI therefore reduces principal. In later months, the balance is lower, so the interest charge becomes smaller and the principal component grows. Actual lender schedules can differ slightly because payments and interest are commonly rounded to the nearest currency unit.
How Loan Term Changes the Cost of Borrowing
A longer loan term normally lowers the required monthly payment, but it gives interest more time to accumulate. A shorter term raises the EMI but can materially reduce total interest. The comparison below uses the same illustrative ₹30,00,000 principal and fixed 8.50% rate; it is an example, not a current loan-rate quote.
| Term | Estimated EMI | Estimated Interest | Estimated Total Repaid |
|---|---|---|---|
| 15 years | ₹29,542 | ₹23,17,594 | ₹53,17,594 |
| 20 years | ₹26,035 | ₹32,48,327 | ₹62,48,327 |
| 25 years | ₹24,157 | ₹42,47,044 | ₹72,47,044 |
Do not choose a term solely on the lowest EMI. Consider the payment alongside emergency savings, other debt, insurance, expected income changes and the full cost of the asset. For home loans, principal and interest may also be only part of the housing expense; property tax, insurance, mortgage insurance, maintenance and association charges may apply separately.
Why Extra Payments Can Matter
When an extra payment is applied directly to principal, the next interest calculation is based on a smaller balance. On a typical amortising loan, that can shorten the repayment period and reduce future interest. The earlier an extra payment is applied, the more remaining interest periods it can affect.
However, read the loan agreement before acting. Some loans charge a prepayment penalty, restrict partial prepayments, require a minimum extra amount or have particular timing rules. Some servicers may treat an additional payment as paying ahead rather than reducing principal unless you give a clear instruction. Floating-rate loans may also recalculate their EMI, tenure or both after a rate reset, which this fixed-rate schedule cannot predict. Use the Loan Prepayment Calculator to compare extra-payment scenarios in more detail.
Interest Rate, APR and Fees: Use the Right Inputs
Stated interest rate
This is the rate used to calculate interest on the financed principal. It is the correct input for a basic amortisation schedule when the payment is based on that stated fixed rate.
APR or effective borrowing cost
APR can include specified lender fees and is useful when comparing similar offers. It may not match the rate used to produce your contractual EMI, so compare like with like and read the disclosure.
Financed fees
If an origination charge, insurance premium or another cost is added to the balance, include it in the loan amount. A fee paid upfront should not be added unless it is financed.
Variable or floating rates
This tool assumes the entered rate stays constant. For a floating-rate loan, rerun the estimate whenever the lender changes the rate and use the lender’s revised schedule as the controlling record.
Before You Rely on an Amortisation Table
- Check whether the loan is reducing-balance, flat-rate, interest-only, balloon, step-up or otherwise structured differently.
- Confirm the payment frequency. This page is designed for monthly repayments and may not match weekly, fortnightly or biweekly loan schedules.
- Use the rate, balance and remaining term from your latest lender document rather than an old advertisement or expired quote.
- Include only recurring loan payments here. Taxes, insurance, processing charges, late fees and property-related costs may need separate calculations.
- Compare any planned refinance using the new rate, remaining balance, new term and closing costs with the Mortgage Refinance Calculator or a lender’s official disclosure.
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Frequently Asked Questions
What does an amortisation schedule show?
It shows each scheduled payment, the amount applied to principal and interest, and the balance remaining after the payment. A yearly view groups those same monthly figures into annual totals.
Why is so much of my first EMI interest?
Interest is calculated on the outstanding balance. Because the balance is largest at the beginning of the loan, the early interest charge is also larger. The principal share generally increases over time.
Does this calculator work with a zero-interest loan?
Yes. At 0% interest, the principal is divided evenly across the selected number of months. The schedule will show no interest and an equal principal amount in each regular payment.
Will an extra payment always reduce my loan term?
Usually it can when the lender applies it directly to principal and keeps the regular EMI unchanged. Contract terms, prepayment charges, payment-allocation rules and variable-rate changes can alter the outcome.
Why might my lender’s schedule be different?
Lenders may calculate daily interest, use a different payment date, round each instalment, include fees, reset a variable rate or use different compounding conventions. The lender’s official statement controls.
Is an EMI the same as the total monthly cost of a mortgage?
Not necessarily. EMI generally describes principal and interest. A complete housing payment can also include applicable tax, insurance, mortgage insurance, association dues and other required charges.