View amortization schedule (year by year)
| Year | Principal paid | Interest paid | Balance |
|---|
Free Loan EMI Calculator with Amortization Schedule
Work out the monthly instalment on any home loan, car loan, or personal loan in seconds. Enter the amount, interest rate, and tenure to see your EMI, the total interest you will pay, the total amount payable, and a full year-by-year amortization schedule. Everything runs in your browser โ no sign-up, nothing uploaded.
How the EMI is calculated
EMI stands for Equated Monthly Instalment, calculated on a reducing-balance basis. The principal is P, the monthly rate r is the annual rate divided by 12 and by 100, and n is the number of months. Each instalment covers that month’s interest first, and whatever remains reduces the principal โ which is why early payments are interest-heavy and later ones clear the balance faster.
Why the schedule matters more than the EMI
Two loans with an identical EMI can differ enormously in total interest. A longer tenure lowers the monthly figure but raises lifetime cost, sometimes past the principal itself. Open the schedule and compare 15 years against 20 before you sign anything โ the difference is usually larger than people expect.
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