Amortization Calculator – Complete Loan Schedule & Chart Tool

About the Loan Amortization Calculator

Our Loan Amortization Calculator is a simple yet powerful financial tool that helps you understand how your loan is repaid over time. With this calculator, you can visualize your entire payment schedule — month by month — and learn how much of your payment goes toward principal and how much toward interest.

What is Amortization?

Amortization is the process of paying off a debt through regular payments over time. Each installment covers both interest and a portion of the principal. Tools like a mortgage amortization calculator or auto loan amortization calculator help borrowers plan better and see how their balance decreases with each payment.

Amortization Formula (EMI Formula)

The mathematical formula for calculating amortization (EMI) is:

M = P × r × (1 + r)^n / ((1 + r)^n - 1)

• M = Monthly Payment
• P = Loan Principal
• r = Monthly Interest Rate (Annual Rate ÷ 12)
• n = Total Number of Payments (Years × 12)

Why Use an Amortization Calculator?

Our free amortization schedule calculator gives you instant insights into:

• Monthly payment (EMI) details
• Total interest paid during loan term
• Outstanding balance after each month
• Interactive amortization chart visualization
• CSV download of complete amortization table

Home Loan Amortization Calculator

A home loan amortization calculator helps you estimate how your mortgage payments are distributed across years. Using the mortgage calculator amortization feature, you can see total interest costs and compare different loan tenures.

Car Loan & Auto Loan Amortization

Planning to buy a vehicle? The car loan amortization calculator or auto loan amortization calculator helps you analyze your loan structure and decide if making early repayments could save money.

Amortization Table & Chart

The tool also provides an amortization table calculator that displays month-by-month details. Each row shows:

• Month number
• Payment made
• Principal paid
• Interest paid
• Remaining balance

You can also visualize it in a colorful amortization calculation chart for a quick graphical understanding.

Extra Payments & Early Loan Payoff

Our calculator also supports additional monthly payments. This feature helps you see how small extra payments can drastically reduce the loan term and total interest. Experiment with the extra payment field and see instant results.

Example Calculation

Let's say you borrow ₹10,00,000 at 8% annual interest for 10 years. Your EMI will be around ₹12,133. You can view a full amortization schedule with monthly principal and interest breakup, total interest, and balance remaining.

Mortgage Amortization Calculator for Planning

Whether you're refinancing or purchasing a new home, a mortgage amortization calculator lets you simulate real scenarios. Adjust interest rates, add prepayments, or shorten your loan period — all in one place.

Tips for Smart Loan Management

• Make bi-weekly payments to reduce total interest.
• Round up your EMI slightly to finish early.
• Use refinancing options if interest rates drop.
• Track your amortization schedule regularly.

Comparison Between Simple Interest & Amortization

In a simple interest loan, interest is always calculated on the original principal, whereas amortization recalculates interest on the declining balance — meaning you pay less interest as time passes.

Benefits of This Tool

• Works for all currencies
• Responsive for all devices
• Supports custom loan term, rate & extra payments
• Provides downloadable amortization table
• Instant chart visualization

FAQs

Q: Can I use this calculator for any type of loan?
A: Yes, you can use it for home, car, education, or business loans.

Q: Does it show both interest and principal amounts?
A: Absolutely, the table and chart display monthly breakdowns.

Q: Is it available for free?
A: 100%! All our tools including this amortization calculator are completely free.

Explore More Free Online Tools

Our website offers many other financial and productivity tools. Check out:

• Loan Calculator
• EMI Calculator
• Mortgage Calculator
• Word to PDF Converter
• Image to Base64 Converter
• Text Counter

Conclusion

Whether you're planning a mortgage, buying a car, or managing a business loan, this amortization calculator provides the most complete breakdown of your repayment journey. It combines the features of a loan amortization calculator, mortgage amortization calculator, and amortization schedule calculator — making it the ultimate all-in-one financial planning tool.