EMI Schedule / Amortization Calculator 📊

Generate a detailed **Amortization Table** showing the monthly breakdown of principal, interest, and remaining loan balance for every payment.

Loan Input Parameters

Loan Principal ($):

Annual Interest Rate (%):

Loan Term (Years):

Start Month:

Start Year:

Display Limit (Payments):

Loan Summary

Required Monthly EMI:

Total Loan Term: payments

Total Interest Paid:

Amortization Schedule (Partial View)

# / Date	Starting Balance	Monthly EMI	Interest Paid	Principal Paid	Ending Balance

Key Features of This Calculator

**Full Breakdown:** Shows how each EMI payment is split between interest and principal.
**Date Tracking:** Provides the exact calendar date for each required payment.
**Balance Tracking:** Clearly illustrates how the loan balance decreases over time.

Amortization Calculation Method

An amortization schedule relies on two steps: first calculating the fixed EMI, and then iteratively breaking down the loan balance.

1. Equated Monthly Installment (EMI)

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

Where:
P = Principal
i = Monthly Rate (Annual Rate / 1200)
n = Total Payments (Term in Years × 12)

2. Monthly Breakdown (Iterative)

Interest Paid = Starting Balance × Monthly Rate
Principal Paid = EMI - Interest Paid
Ending Balance = Starting Balance - Principal Paid

The **Ending Balance** of one month becomes the **Starting Balance** for the next month, repeating until the balance reaches zero.

Why Your EMI Schedule Matters

An **EMI Schedule**, also known as an **Amortization Table**, is the detailed roadmap for repaying any fully amortized loan (like a mortgage, auto, or personal loan). It provides transparency into the payment process.

The Front-Loaded Interest (H4 for key concept)

A crucial insight from the schedule is that payments in the early years are **mostly interest**. As the loan progresses and the principal balance shrinks, a greater portion of your fixed EMI goes towards reducing the principal. This is why making extra payments early in the loan term is highly effective at reducing the total interest paid.

Using the Schedule for Planning (H4 for practical use)

**Refinance Decision:** Knowing the remaining principal balance at any point helps determine if refinancing is worthwhile.
**Tax Deductions:** In some jurisdictions (e.g., US mortgages), the interest portion of the payment is tax-deductible, requiring this breakdown for accurate filing.
**Extra Payments:** The table allows you to visualize exactly how much quicker you could pay off the loan by adding an extra amount to your principal.