Amortization Schedule Calculator

The amortization schedule is the loan's actual story. The EMI is a single flat number, but underneath it, every instalment splits into interest and principal in a ratio that changes each month — and that ratio determines everything: how fast you build equity, whether prepayment is still worth it, and what you would owe if you sold or refinanced tomorrow.

This tool prints the whole table: month by month, both components, running balance, and a year-wise summary you can actually read. Most borrowers see this document once, buried in a sanction packet, and never again. It is the most useful page in the entire loan file.

A ₹10 L loan at 9% over 7 years carries an EMI of ₹16,089. In year one you pay ₹1,93,069 in instalments: ₹85,640 goes to interest and ₹1,07,429 reduces the balance, leaving ₹8,92,571 outstanding. By year seven the same ₹1,93,069 of instalments contains just ₹9,092 of interest — the other ₹1,83,977 clears the loan.

Watch the balance trajectory rather than the EMI: ₹8,92,571 after year 1, ₹7,75,065 after year 2, ₹6,46,536 after year 3, ₹5,05,950 after year 4. Halfway through the tenure in time, you have repaid slightly more than half the principal — a much healthier curve than a 20-year loan, where the halfway point still leaves roughly 70% outstanding.

That difference is the whole reason tenure matters. On this 7-year schedule the principal component already exceeds the interest component in month one. On a 20-year home loan at similar rates, that crossover doesn't happen until around year nine. The shorter the tenure, the earlier every rupee starts working on the debt instead of the interest.

Practical use: find the row for the month you are considering a sale, refinance or balance transfer, and read the outstanding balance. That figure — not the original loan amount — is what a new lender is being asked to take over, and what a foreclosure charge is calculated on.

Three lines, repeated once per month for the whole tenure. Interest is charged on the previous month's closing balance, whatever remains of the EMI reduces the principal, and the new balance carries forward. Because the balance falls every month, the interest line shrinks and the principal line grows by exactly the same amount — the EMI itself never moves.

This schedule is computed at the rupee level rather than approximated, so the totals tie out to the last instalment, which is typically a few rupees different from the rest to clear residual balance. Real lender statements can differ marginally because of business-day conventions, the disbursal-date to first-EMI gap (pre-EMI interest), and any rate reset on a floating loan — none of which change the structure you see here.