Loan calculator online

How to use the loan calculator

1. Enter the loan amount, annual interest rate, and tenure in months.
2. Read the monthly payment amount.
3. Review the amortization schedule showing payment, principal portion, interest portion, and remaining balance for each month.
4. For long tenures, the schedule shows the first six and last six months, with a summary in between; the totals reflect the full schedule.

This uses the same underlying EMI/loan payment formula as the site's EMI calculator, but adds the full payment-by-payment amortization breakdown.

Supported formats

Loan amount and interest rate accept decimal values. Tenure must be a whole number of months, capped at 480 months (40 years) for this calculator, which covers the vast majority of real consumer and mortgage loans.

What an amortization schedule shows and how it's built

An amortization schedule lists every single payment over a loan's life, breaking each one into its interest portion and principal portion, plus the loan balance remaining after that payment. Each month's interest portion is calculated on the current outstanding balance (balance × monthly rate), and the principal portion is whatever's left of the fixed payment after interest is covered. As the balance shrinks month by month, the interest portion shrinks too, so a growing share of each later payment goes toward principal — even though the total payment amount itself doesn't change.

Best practices

• Look at how slowly the balance drops in the early months of a long-tenure loan; this is normal and expected, not a sign of a bad loan, since early payments are interest-heavy by the nature of the math.
• Use the schedule to plan extra payments, understanding that an extra payment made early in the loan reduces more future interest than the same extra payment made later, since it cuts principal while the balance (and therefore future interest) is still high.
• Compare the total interest figure across different loan offers, not just the monthly payment, since that's the true cost of borrowing.

Common mistakes to avoid

• Assuming half the loan is paid off after half the tenure. Because early payments are interest-heavy, the outstanding balance is typically still well over half the original principal at the halfway point in time.
• Not accounting for extra or early payments in your own planning; this calculator shows the schedule for regular fixed payments only, not what happens if you pay extra in a given month.
• Confusing this with a savings or investment schedule. A loan amortization schedule shows a shrinking balance you owe; it's the opposite of an investment growth schedule like the SIP calculator shows.

Real-world use cases

• Understanding exactly how a mortgage or auto loan pays down over time before signing.
• Estimating how much equity you'll have built at a specific point in a loan's term.
• Deciding whether an extra payment is worth making by seeing how much of a typical payment currently goes to interest versus principal.
• Checking a lender-provided amortization schedule against an independent calculation.
• Deciding between two loan offers with different tenures by comparing their full cost, not just the monthly payment.

Worked example: how the payment split shifts over a 36-month loan

For a 20,000 loan at 8% annual interest over 36 months, the balance between interest and principal in each payment shifts noticeably from the first month to the last:

By the final month, interest makes up only a small fraction of the payment, compared to nearly a fifth of the very first payment.

Estimating the effect of an extra payment manually

Although this calculator doesn't model extra payments directly, you can approximate the effect: find the month in the schedule where the remaining balance is closest to your planned extra payment amount, and note the balance a few months later at that same point. The difference gives a rough sense of how many months of future payments a lump-sum extra payment could effectively skip, since it immediately reduces the principal that future interest is calculated on. For an exact answer specific to your loan, a lender's own prepayment calculator (which accounts for their specific prepayment terms and any fees) is more precise than this approximation.

Limitations

This calculator shows a standard fixed-rate, fixed-payment amortization schedule; it does not model extra/prepayments, rate changes on a variable loan, fees, or insurance. The displayed schedule table is truncated to the first and last six months for long tenures to keep the page usable, though the totals reflect the complete schedule.

Privacy

All calculation happens locally in your browser. Nothing is sent to a server. See the privacy policy for the site's full data handling approach.

Troubleshooting

• If you only need the monthly payment figure without the full schedule, the EMI calculator gives a simpler summary view.
• If tenure exceeds 480 months, reduce it; that cap covers virtually all real consumer loan terms.
• If the schedule table looks truncated, that's expected for long tenures; totals still reflect every payment.

Conclusion

Use this calculator when you want to see exactly how a loan pays down over time, not just the monthly payment amount. For a quicker summary without the full schedule, use the EMI calculator.