Amortization Table Calculator 📊

Generate a full **amortization schedule** showing exactly how each monthly payment is divided between **Principal** and **Interest** over the life of your loan.

Loan Details

Amortization Summary

Fixed Monthly Payment (EMI):

Actual Monthly Payment (EMI + Extra):

Total Interest Paid:

Loan Payoff Time:

Payment Schedule Details

Month	Starting Balance	Total Payment	Interest Paid	Principal Paid	Remaining Balance

Amortization Principle

Amortization is the process of paying off a debt over time in equal installments. Early payments are heavily weighted towards **interest** while later payments allocate significantly more towards **principal** reduction.

Key Formulas Used

The standard Equal Monthly Installment (EMI) is calculated first:

EMI = P [ i(1 + i)ⁿ / ( (1 + i)ⁿ - 1 ) ]

Where:
P = Principal
i = Monthly Rate (Annual Rate / 1200)
n = Total Term in Months

For each month, the interest is calculated on the remaining balance: Interest = Remaining Balance × $i$.

The principal portion of the payment is then calculated: Principal Paid = Total Payment - Interest Paid.