Loan Amortization Schedule

Enter the loan details and the month of the first EMI. The schedule lists every payment with its principal and interest parts and the balance left, grouped by year or shown month by month. Download it as a CSV to keep with your loan papers.

How to use the loan amortization schedule

1. Enter the loan amount, which is the amount disbursed, not the property or car price.
2. Enter the yearly interest rate from your sanction letter or latest statement.
3. Enter the tenure in years.
4. Pick the month of your first EMI. Most banks set the EMI date a month after full disbursement, on a fixed date such as the 5th or 10th.
5. Choose the yearly view for a summary or the monthly view for every EMI.

Above the table you get the EMI, the month of the last EMI, the total interest, the total you will repay and the interest paid in the first year. The CSV button saves the whole table so you can open it in Excel or Google Sheets, add your own part-payments or keep it with your loan file.

What each column means

• EMI: the fixed monthly instalment of principal and interest.
• Interest: the opening balance for the month times the monthly rate (yearly rate ÷ 12).
• Principal: the EMI minus the interest. This is what reduces your loan.
• Balance: what you still owe after the EMI is paid.

In the yearly view, the interest and principal columns are totals for the twelve EMIs in that year and the balance is the amount outstanding at the end of it.

A worked example

Take the default loan: ₹25 lakh at 8.5% for 20 years. The EMI is ₹21,696.

• Month 1: interest is ₹17,708 and principal ₹3,987. The balance falls to about ₹24,96,013.
• Year 1: you pay ₹2,60,347 in EMIs. About ₹2,10,591 is interest and only about ₹49,756 is principal.
• End of year 5: the balance is about ₹22.03 lakh.
• End of year 10: the balance is about ₹17.50 lakh.
• End of year 15: the balance is about ₹10.57 lakh.

After half the tenure you have repaid only about 30% of the loan. The second ten years clear the other 70%, because by then most of each EMI goes to principal. On this loan, the principal part of the EMI becomes larger than the interest part in month 143, in year 12.

Why the split changes

Interest each month is charged only on what you still owe. At the start that is the full loan, so most of the EMI goes to interest. Each EMI reduces the balance slightly, which reduces next month’s interest, which leaves a little more of the same EMI for principal. Over time the effect speeds up.

The longer the tenure, the stronger this is. On a 30-year loan of ₹25 lakh at 8.5%, the first EMI of ₹19,223 has only ₹1,515 of principal, and after five years you still owe about ₹23.87 lakh. On a 15-year loan at the same rate, the first EMI puts ₹6,910 toward principal and the balance after five years is about ₹19.86 lakh.

Using the schedule for part-payments

The schedule shows exactly what a part-payment is worth. Money you prepay goes straight to principal, and every rupee of principal removed early saves interest for all the remaining months. That is why prepayments in the early years save the most. ₹1 lakh prepaid in year 2 of a 20-year loan avoids about 18 years of interest on it. The same ₹1 lakh in year 18 avoids about 2.

Use the loan prepayment calculator to compare reducing the tenure with reducing the EMI. RBI rules do not allow banks to charge foreclosure or part-payment fees on floating-rate loans taken by individuals for non-business purposes, so most home loan borrowers can prepay without a penalty.

The yearly balance column also helps with:

• Balance transfer. The outstanding balance at the planned switch date is the figure to enter in the balance transfer calculator.
• Selling the property. The balance plus a few days of interest is roughly the foreclosure amount.
• Income tax under the old regime. The yearly interest and principal columns estimate what your bank will show on its interest certificate for Section 24(b) and Section 80C.
• Planning a top-up loan. Lenders offer top-ups based on how much of the loan you have repaid.

Checking your bank’s statement

Ask your bank for the repayment schedule or download it from net banking, then compare it with this table. The two should match within a few rupees if you used the disbursed amount, the current rate and the right first EMI month.

They will differ if:

• the rate changed during the loan, which is common with repo-linked floating rates,
• you made part-payments,
• the loan was disbursed in stages, as with under-construction property,
• the first EMI included broken-period interest.

When a floating rate changes, many banks keep the EMI and extend the tenure. To see the new schedule, take the balance on the date of the change, the new rate and the remaining tenure, and build a fresh schedule from that point.

Under-construction property and pre-EMI

When a builder is paid in stages, the bank disburses the loan in parts. Until the final disbursement, you pay pre-EMI interest only on what has been released, and the principal does not fall at all. Full EMIs begin after the last disbursement. Build the schedule from the month full EMIs start, using the full disbursed amount. Pre-EMI interest paid before possession can be claimed under the old tax regime in five equal parts from the year of completion, within the overall Section 24(b) limit.

Comparing schedules

Building two schedules side by side is a quick way to judge a decision. Run one for 20 years and one for 15 on the same amount and compare the balance at year 5 and year 10. On ₹25 lakh at 8.5%, the 15-year loan has about ₹2.2 lakh less outstanding after five years and about ₹5.5 lakh less after ten. That is the extra equity you build in return for a higher EMI.

When a rate rise extends your tenure

Suppose your rate goes from 8.5% to 9.25% at the end of year 3, and the bank keeps the EMI at ₹21,696. The balance at that point is about ₹23.37 lakh. Build a new schedule with that balance, 9.25% and the 17 years left, and you will see a higher EMI. Since the bank is not raising the EMI, the loan must run longer instead: about 19 years and 4 months from that point instead of 17, so a little over two extra years of EMIs. If the EMI barely covers the interest, the tenure can stretch close to the bank’s maximum. Asking the bank to raise the EMI, or making a part-payment right after a rate rise, keeps the original end date in sight.

Other loans

Any loan with a fixed rate and equal EMIs follows the same pattern: car loans, personal loans, education loans after the moratorium and loans against property. For a loan quoted at a flat rate, first convert it with the flat vs reducing rate calculator. For a quick EMI figure without the full table, use the EMI calculator.

The schedule is calculated in your browser. Nothing you type is sent anywhere.

Frequently asked questions

What is a loan amortization schedule?

It is a table of every EMI on a loan, showing how much of each one pays interest, how much reduces the principal and what balance is left. Banks prepare it from the loan amount, rate and tenure. You can get one from your bank, or build an identical one here from your sanction letter.

Why does my home loan balance fall so slowly in the first years?

Because interest is charged on the full balance, and early on the balance is close to the whole loan. On ₹25 lakh at 8.5% for 20 years, about 81% of the first year’s EMIs go to interest. The principal share rises every month, so the balance falls faster in the later years.

How do I see how much interest I paid this financial year?

Switch to the yearly view and read the interest column. The rows run in twelve-month blocks from your first EMI, so they line up with April to March only if your first EMI was in April. For tax filing, use the provisional or final interest certificate your bank issues.

Can I add part-payments to the schedule?

This table shows regular EMIs only. Download the CSV and add a column for part-payments if you want to track them, or use the loan prepayment calculator, which shows the interest saved and the months cut for a lump sum. Ask the bank to apply part-payments to principal.

Does the schedule work for a floating-rate loan?

It is accurate until the next rate change. After a change, rebuild the schedule from that date with the outstanding balance, the new rate and the remaining tenure. If your bank extended the tenure instead of changing the EMI, use the new tenure it has given you.

Why does my bank’s schedule differ by a few rupees?

Rounding. Banks round interest to the rupee or paisa each month, and some round the EMI up. Over many years the differences add up to a small amount, usually adjusted in the last EMI. Larger differences usually mean a different rate, amount or start date.