Calculate your loan repayment schedule and monthly payments
The Amortization Calculator is an online tool that helps you calculate monthly loan repayments, interest, and principal for any loan type. It provides a clear amortization schedule to understand your repayment plan over the tenure of the loan.
Amortization is the process of spreading loan payments over time into equal installments that include both principal and interest. An amortization schedule shows the breakdown of each payment, highlighting how much goes towards principal and interest.
The original loan amount borrowed from a lender.
The annual interest rate charged on the loan.
The duration of the loan, typically in months or years.
The fixed installment amount that includes both principal and interest.
Monthly Payment (EMI) can be calculated using:
EMI = P × r × (1 + r)^n / [(1 + r)^n – 1]
Suppose:
Monthly EMI = 10,00,000 × 0.00667 × (1 + 0.00667)^120 / [(1 + 0.00667)^120 – 1] ≈ ₹12,132
Over 10 years, total payments = 12,132 × 120 ≈ ₹14,55,840
Total Interest Paid ≈ ₹4,55,840
The amortization schedule shows:
1. Prepayment: Early repayment reduces interest and loan tenure.
2. Interest Rate Changes: Adjustable rate loans can be simulated by changing interest rates periodically.
3. Partial Repayment: Calculate impact of additional payments on overall interest and tenure.
Home loans, personal loans, car loans, business loans, and any fixed interest loans.
Yes, you can add prepayment amounts and recalculate the amortization schedule.
No, this calculator shows pure principal and interest. Tax benefits (like home loan deductions) can be applied separately.
Yes, you can adjust loan tenure and see impact on EMI and total interest.
Yes, it provides precise EMI and amortization schedule based on standard formulas.
Our Amortization Calculator helps you plan your loan repayments effectively. By understanding monthly payments, principal, interest, and impact of prepayments, you can make informed financial decisions.