What is a Loan Repayment (Amortization) Schedule?
An amortization schedule lists every instalment of a loan from the first to the last. For each month it shows the EMI, the part that pays interest, the part that reduces principal, and the balance still outstanding. It answers questions like “how much will I still owe after three years?” and “how much of my EMI is actually reducing the loan?”.
How to Read the Schedule
Take a ₹10,00,000 loan at 10% for 60 months. The EMI is about ₹21,247. In month 1, ₹8,333 is interest and ₹12,914 reduces the principal. By month 60, interest is only ₹176 and ₹21,071 goes to principal. After 30 EMIs — halfway through the tenure — about ₹5,61,922 is still outstanding, more than half the original loan, because early EMIs carry more interest.
The schedule above groups the months into loan years. Each year shows the total EMI paid, principal repaid, interest paid and the closing balance. Open any year to see its months.
Practical Uses
- Check an existing loan: enter your current outstanding balance, rate and remaining months to see the rest of your repayment.
- Plan a foreclosure: the closing balance of any month tells you roughly how much you would need to close the loan then (before any charges).
- Tax planning: yearly interest and principal totals help when a loan has tax benefits on interest or principal.
- Test part payments: see how a lump sum changes the schedule, the end date and the total interest.
Assumptions
The schedule assumes a fixed interest rate, monthly compounding on the reducing balance and EMIs paid on time. Floating rates, broken-period interest before the first EMI, fees and late-payment charges are not included.
Frequently Asked Questions
What is an amortization schedule?
It is a table of every instalment over the life of a loan, showing how much of each payment goes to interest, how much reduces the principal, and the balance left afterwards. It lets you see exactly how a loan is paid off over time.
Can I use this for an outstanding loan I have already been paying?
Yes. Enter your current outstanding principal, your current interest rate and the number of months left. The schedule will then show your remaining instalments.
Is the EMI calculated by this tool the same as my bank’s EMI?
It uses the standard monthly reducing-balance formula that most Indian banks and NBFCs use, so it should be very close. Your lender’s exact figure can differ slightly because of rounding, the date your first EMI falls on (broken-period interest), processing fees, insurance or a different interest-calculation method. Always confirm with your loan sanction letter.
Does the calculator store my numbers?
No. All calculations run inside your browser. The amounts you enter are not sent to our server or saved anywhere.