Loan EMI & Amortization Schedule Calculator
Calculates monthly equated loan payments (EMI) and generates complete amortization schedules with principal and interest breakdowns.
Loan EMI & Complete Amortization Schedule Calculator
Calculates fixed monthly payments, interest cost, amortization schedule, and extra prepayment savings
| Year | Starting Balance | Principal Paid | Interest Paid | Ending Balance |
|---|---|---|---|---|
| 1 | $250,000 | $10,183 | $15,950 | $239,817 |
| 2 | $239,817 | $10,865 | $15,268 | $228,952 |
| 3 | $228,952 | $11,593 | $14,541 | $217,359 |
| 4 | $217,359 | $12,369 | $13,764 | $204,990 |
| 5 | $204,990 | $13,197 | $12,936 | $191,793 |
| 6 | $191,793 | $14,081 | $12,052 | $177,712 |
| 7 | $177,712 | $15,024 | $11,109 | $162,687 |
| 8 | $162,687 | $16,031 | $10,103 | $146,657 |
| 9 | $146,657 | $17,104 | $9,029 | $129,553 |
| 10 | $129,553 | $18,250 | $7,884 | $111,303 |
| 11 | $111,303 | $19,472 | $6,661 | $91,831 |
| 12 | $91,831 | $20,776 | $5,357 | $71,055 |
| 13 | $71,055 | $22,167 | $3,966 | $48,888 |
| 14 | $48,888 | $23,652 | $2,481 | $25,236 |
| 15 | $25,236 | $25,236 | $897 | $0 |
What is an Equated Monthly Installment (EMI)?
An Equated Monthly Installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month to fully pay off a loan over a set tenure.
Formula & Step-by-Step Calculation
Where P = Principal, r = monthly interest rate, n = total months.
Worked Step-by-Step Examples
$250,000 mortgage at 6.5% interest for 15 years
Common Real-World & Academic Use Cases
- ✓ Home mortgage payment planning
- ✓ Auto loan and car financing monthly payment checks
- ✓ Student loan debt repayment structuring
How to Use the Loan EMI & Amortization Schedule Calculator
Enter Loan Amount
Input total borrowed balance.
Enter Rate & Tenure
Input annual interest rate % and loan duration in years.
Inspect Amortization
Review monthly payment and year-by-year balance schedule.
Frequently Asked Questions
Q: Why does early loan payment consist mostly of interest?
Because interest is calculated on the remaining balance; when the balance is highest at the beginning of the loan, interest makes up the largest portion of each EMI payment.