

How does a loan amortization schedule calculator work?
What is Financial Amortization Schedule Calculator?
A Financial Amortization Schedule Calculator quickly shows you how much to pay monthly to repay a loan, and breaks down each payment into principal and interest portions. It generates a full payment table by months, showing your outstanding balance over time.
Using this tool, you can visualize and plan your loan repayments smartly. It is ideal for students, parents, or anyone wanting clarity on loan repayment, EMIs, and interest costs.
Formula Behind Financial Amortization Schedule Calculator
The calculator uses the EMI formula: EMI = [P × r × (1 + r)n]/[(1 + r)n – 1], where P is the loan amount, r is monthly interest rate (annual rate/12/100), and n is number of months. Each month's interest is calculated, and extra payments (if any) are factored to reduce tenure and overall interest.
Financial Amortization Example Table
Month | Payment | Principal | Interest | Balance |
---|---|---|---|---|
1 | ₹12,133 | ₹5,633 | ₹6,500 | ₹5,94,367 |
2 | ₹12,133 | ₹5,662 | ₹6,471 | ₹5,88,705 |
3 | ₹12,133 | ₹5,691 | ₹6,442 | ₹5,83,014 |
12 | ₹12,133 | ₹6,223 | ₹5,910 | ₹5,27,332 |
24 | ₹12,133 | ₹6,935 | ₹5,197 | ₹4,42,891 |
36 | ₹12,133 | ₹7,729 | ₹4,404 | ₹3,29,447 |
120 | ₹12,133 | ₹12,070 | ₹63 | ₹0 |
(Illustrated for a ₹6,00,000 loan, 13% p.a., 10 years; your data may vary.)
Steps to Use Financial Amortization Schedule Calculator
- Enter your loan amount, interest rate, and loan tenure in years.
- Optionally add any extra monthly payment amount.
- Click "Calculate".
- View your EMI, total interest, repayment duration, and a month-wise amortization table instantly.
Why Use Vedantu’s Financial Amortization Schedule Calculator?
This tool ensures instant, error-free loan and EMI calculations, with step-wise and visually clear reports. You can adjust values to plan prepayments and see interest savings at a glance.
No need for complex Excel formulas or manual breakdowns—our calculator adapts to loans of any size and duration, giving you transparency for home, car, or education finance planning. See instant payoff date changes if you add extra EMIs!
Applications of Financial Amortization Schedule Calculator
Ideal for home or mortgage loan planning, comparing car loans, or analyzing loan balance for faster prepayments. It’s especially useful for visualizing exact outstanding principal and interest over time for any fixed-rate borrowing.
Students can use it for education loan EMI insights, while parents can assess total interest outgo. Financial advisors and teachers also use amortization tables to explain borrowing and saving concepts simply. Try our Percentage Calculator or Interest Calculator for deeper loan analysis. Also, refer to Profit Calculator or explore Algebra Topics for broader maths learning.
FAQs on Loan Amortization Schedule Calculator – Free Online Tool
1. How do I calculate a loan amortization schedule?
2. What is the formula for calculating a loan amortization schedule?
3. What does an amortization schedule show?
4. How can I use extra payments to reduce my loan term?
5. What is the difference between principal and interest in a loan payment?
6. How does the interest rate affect my loan amortization schedule?
7. Can I create my own amortization schedule in Excel or Google Sheets?
8. What are the real-world applications of an amortization schedule?
9. What is a balloon payment in a loan amortization schedule?
10. How can I compare different loan options using an amortization schedule?
11. What is the reducing balance method of loan repayment?

















