Loan amortization calculator
Work out the equated monthly instalment (EMI) on a loan, the total interest you will pay, and a full month-by-month schedule of principal and interest.
Loan details
Your instalment
Amortization schedule
How each payment splits between interest and principal, month by month.
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | 4,568.47 | 3,818.47 | 750 | 96,181.53 |
| 2 | 4,568.47 | 3,847.11 | 721.36 | 92,334.41 |
| 3 | 4,568.47 | 3,875.97 | 692.51 | 88,458.45 |
| 4 | 4,568.47 | 3,905.04 | 663.44 | 84,553.41 |
| 5 | 4,568.47 | 3,934.32 | 634.15 | 80,619.09 |
| 6 | 4,568.47 | 3,963.83 | 604.64 | 76,655.26 |
| 7 | 4,568.47 | 3,993.56 | 574.91 | 72,661.7 |
| 8 | 4,568.47 | 4,023.51 | 544.96 | 68,638.18 |
| 9 | 4,568.47 | 4,053.69 | 514.79 | 64,584.5 |
| 10 | 4,568.47 | 4,084.09 | 484.38 | 60,500.41 |
| 11 | 4,568.47 | 4,114.72 | 453.75 | 56,385.69 |
| 12 | 4,568.47 | 4,145.58 | 422.89 | 52,240.1 |
| 13 | 4,568.47 | 4,176.67 | 391.8 | 48,063.43 |
| 14 | 4,568.47 | 4,208 | 360.48 | 43,855.43 |
| 15 | 4,568.47 | 4,239.56 | 328.92 | 39,615.87 |
| 16 | 4,568.47 | 4,271.36 | 297.12 | 35,344.52 |
| 17 | 4,568.47 | 4,303.39 | 265.08 | 31,041.13 |
| 18 | 4,568.47 | 4,335.67 | 232.81 | 26,705.46 |
| 19 | 4,568.47 | 4,368.18 | 200.29 | 22,337.28 |
| 20 | 4,568.47 | 4,400.94 | 167.53 | 17,936.33 |
| 21 | 4,568.47 | 4,433.95 | 134.52 | 13,502.38 |
| 22 | 4,568.47 | 4,467.21 | 101.27 | 9,035.18 |
| 23 | 4,568.47 | 4,500.71 | 67.76 | 4,534.47 |
| 24 | 4,568.47 | 4,534.47 | 34.01 | 0 |
The same payment, a shifting split
An amortized loan is repaid in equal monthly instalments. Early on most of each payment is interest; over time more of it goes to the principal, until the balance reaches zero.
The EMI formula
EMI = P times r times (1 + r) to the power n, over ((1 + r) to the power n minus 1), where P is the principal, r the monthly rate, and n the number of months. At a zero rate the instalment is simply the principal divided by the number of months.
Interest first, principal later
Interest each month is the rate times the balance still owed, so it is highest at the start. As the balance falls, the interest share shrinks and the principal share grows.
An estimate, not an offer
This shows the standard amortization for the numbers you enter. A real loan can add fees, insurance, or a different compounding basis. Treat this as an example, then confirm the terms.
The schedule follows the standard amortization formula. For guidance on loans and how amortization works, see the reference below.
This is an example based on the standard amortization formula and the inputs given. It is not a loan offer or financial advice, and it excludes fees, insurance, and any change of rate. Confirm the terms with the lender.
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