Loan Amortization Calculator
Generate a complete amortization schedule for any fixed-rate loan — home, car, personal, education, gold or business — showing exactly how each instalment splits between interest and principal, and how your outstanding balance falls over time. Unlike the EMI Calculator and Home Loan EMI Calculator, which summarize the schedule by year, this calculator is built specifically to show every period in full: switch to the Monthly view below to see all 240, 300 or 360 individual months of a long-tenure loan, not just yearly totals.
Fill in the form and select "Calculate" to see your results here.
What is the Loan Amortization Calculator?
This calculator is the dedicated, loan-type-agnostic tool on Toolbeel Finance for producing a complete amortization schedule — the period-by-period breakdown of every instalment on a fixed-rate, fixed-tenure loan. It differs from the EMI Calculator and Home Loan EMI Calculator, both of which show only a year-wise summary table: here, the schedule itself is the point, so you can switch to a Monthly view and see every single one of the up to 360 monthly rows a long-tenure loan produces. That level of detail is not thin content for a calculator called "amortization schedule" — it is the calculation. Use the Yearly view for a quick overview of how a loan pays down over its life, and the Monthly view when you need the figures for one specific instalment.
How to use this calculator
- Enter the loan amount (the principal, not any add-on charges).
- Enter the annual interest rate quoted by the lender.
- Enter the loan tenure in years or months, whichever your loan offer is stated in.
- Select "Calculate Amortization Schedule" to see your EMI, total interest, total payment, and the schedule table.
- Use the "Schedule View" dropdown above the table to switch between the yearly summary and the full month-by-month schedule — this redraws the table instantly without recalculating anything.
Formula
The EMI is calculated once using the standard reducing-balance formula used by Indian banks and NBFCs, and then stays fixed for the life of the loan. Each month's interest is charged only on the balance still outstanding at the start of that month, and whatever is left of the fixed EMI after paying that interest reduces the principal — which is repeated month by month to build the full schedule.
Example
Consider a loan of ₹25,00,000 at 8.5% per annum, repaid over a tenure of 240 months (20 years). Applying the EMI formula gives a fixed monthly instalment of ₹21,695.58. Over the full tenure, the total amount repaid is ₹52,06,939.40, of which ₹27,06,939.40 is interest.
The Monthly view shows exactly how that fixed EMI splits differently every month. In month 1, the EMI of ₹21,695.58 splits into ₹17,708.33 of interest and ₹3,987.25 of principal, leaving a balance of ₹24,96,012.75. In month 2, the same ₹21,695.58 EMI now splits into a slightly lower ₹17,680.09 of interest and a slightly higher ₹4,015.49 of principal, leaving a balance of ₹24,91,997.26 — the principal portion rises a little every month as the balance it's charged interest on keeps shrinking. The Yearly view instead aggregates all twelve of those monthly rows: for year 1, it shows ₹49,755.73 of principal paid, ₹2,10,591.24 of interest, and a year-end balance of ₹24,50,244.27, which is the useful figure for a quick overview but hides the month-to-month movement the Monthly view reveals.
Factors that affect your amortization schedule
- Loan amount. A larger principal means a larger interest amount in every early-tenure month, since interest is charged on the outstanding balance.
- Interest rate. A higher rate keeps the interest portion of each EMI elevated for longer, so the balance falls more slowly in the early years.
- Tenure. A longer tenure spreads the same principal over more, smaller instalments, with a higher proportion of early payments going to interest; a shorter tenure raises the EMI but the balance falls faster.
- Fixed vs floating rate. This schedule assumes the interest rate stays constant for the entire tenure. A floating-rate loan's actual schedule will shift whenever the lender revises the rate, so treat this as the schedule at today's rate, not a permanent forecast.
- Rounding and lender conventions. Banks may round the EMI or the final instalment slightly differently than shown here; for a loan you already hold, treat your lender's own statement as authoritative and use this schedule to sanity-check it.
Frequently Asked Questions
Amortization is the process of paying off a loan through regular fixed instalments, where each payment covers both interest on the outstanding balance and a portion of the principal. An amortization schedule lists every single instalment over the life of the loan, showing exactly how much of each payment goes to interest, how much goes to principal, and what the remaining balance is after that payment — which is what this calculator generates in full.
A yearly summary is enough to understand the broad shape of a loan, but several real situations need a specific month's figures — checking the exact outstanding balance before requesting a foreclosure or part-prepayment quote, verifying that a schedule your bank has given you matches the standard calculation, or working out how much interest you can claim for a particular financial year from a specific month onward. Switch this calculator to the Monthly view whenever you need that level of detail.
Interest for a given month is calculated only on the balance still outstanding at the start of that month. Since the EMI amount is fixed, whatever is left over after paying that month's interest goes toward principal. As the balance shrinks month after month, the interest portion shrinks with it, so a growing share of the same fixed EMI is applied to principal — which is why the balance falls faster in the later years of a loan than in the early years.
No. The EMI, total interest and total payment are calculated once from the loan amount, interest rate and tenure you entered. The Yearly and Monthly views are simply two ways of displaying the same underlying month-by-month schedule — the yearly rows are just the twelve monthly rows for that year added together, with the balance shown as it stood at the end of that year.
Use the EMI Calculator if you only want the monthly instalment figure without a full schedule. Use the Loan Interest Calculator if you're focused on the total interest cost rather than a period-by-period breakdown. Use the Home Loan Prepayment Calculator if you want to see how a lump-sum or recurring prepayment would shorten a home loan's tenure or reduce its interest — this calculator does not model prepayments, only the standard fixed-EMI schedule.
Related calculators
Calculations are estimates based on the information entered, assuming a fixed interest rate for the entire tenure and no prepayments. They do not account for processing fees, insurance, prepayment charges, or changes to a floating interest rate, and are not a substitute for the amortization schedule provided by your lender. See our full disclaimer.