Loan Summary
Monthly Payment (EMI)
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Total Principal Paid
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Total Interest Paid
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Total Cost of Loan
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Amortization Schedule
| Payment No. | Starting Balance | Principal Paid | Interest Paid | Total Payment | Ending Balance |
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Understanding Loan Amortization
A loan amortization schedule is a complete table of periodic loan payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid off at the end of its term.
Each payment to the lender will consist of a portion of interest and a portion of principal. In the early stages of a loan, the interest portion is higher. As time passes, the principal portion gradually increases while the interest portion decreases.
This calculator helps you visualize your fixed monthly payment (EMI) for car loans, home loans, or personal loans. By understanding how your payments are structured, you can make informed decisions about your finances, including whether to make extra payments to reduce your loan term or total interest paid.
Knowing your amortization schedule is crucial for financial planning as it helps you understand the true cost of borrowing and how each payment contributes to paying down your debt over time.
Disclaimer
This loan calculator and amortization schedule is for educational and illustrative purposes only. The results are based on the information you provide and may not reflect actual loan terms from a lender. It is not financial, legal, or tax advice. Always consult with a qualified financial professional before making any financial decisions. We do not store or collect any personal information you enter.