Amortization Schedule Calculator – Loan Breakdown Month by Month
Generate a full amortization schedule for any loan. Enter the principal, annual interest rate and tenure in months. The calculator shows your monthly EMI, total payment, total interest and a complete month-by-month table of principal, interest and remaining balance. Use it for home loans, car loans, personal loans and more. No sign-up.
Amortization Schedule Calculator
View a month-by-month breakdown of principal and interest for any loan. Enter loan amount, annual rate and tenure in months.
How the amortization schedule is built
The schedule starts with the EMI formula to get the fixed monthly payment. For each month, interest equals the outstanding balance times the monthly rate; the remainder of the payment goes to principal.
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)
- P = principal (loan amount)
- r = monthly interest rate (annual ÷ 12 ÷ 100)
- n = number of months
Each row: Interest = Balance × r; Principal = EMI − Interest; New Balance = Balance − Principal.
Why an amortization schedule matters for your loan
When you take a loan, your monthly payment stays the same, but the split between principal and interest changes every month. At the start, most of your payment goes to interest because the outstanding balance is high. As you pay down the principal, the interest portion shrinks and the principal portion grows. An amortization schedule makes this progression visible, so you can see exactly how much you owe at any point and how much interest you will pay over the life of the loan.
For a long-term loan like a mortgage, the schedule reveals a striking pattern: in the first few years, you may pay mostly interest and build equity slowly. This is why many financial advisors suggest making extra principal payments early—each extra dollar reduces the balance and saves interest on that amount for the rest of the term. Use our EMI Prepayment Calculator to see how prepayment shortens the tenure and cuts total interest.
The schedule is also useful when comparing loan offers. Two loans with the same principal and tenure can have different interest rates, which changes the total interest and the month-by-month breakdown. By generating schedules for each offer, you can see the true cost difference. Similarly, if you are considering refinancing, the schedule helps you decide whether the new rate justifies the refinance fees.
This calculator assumes a fixed interest rate and equal monthly payments. It does not account for variable rates, balloon payments, fees or prepayment. For most standard home, car and personal loans, the schedule will closely match what your lender provides. Use it to plan, compare and understand your debt before you borrow.