Amortization Calculator — Calculations & Slabs for FY 2026-27

A loan amortization schedule is a complete table of periodic loan payments showing the amount of principal and interest that comprise each payment until the loan is paid off. In the beginning, most of your payment goes toward interest, but over time, more of it goes toward paying off the principal.

A higher interest rate increases the interest portion of your monthly EMI, especially in the early years. This means the principal balance decreases much more slowly, resulting in a higher total interest payout over the life of the loan.

Yes. Making prepayments directly reduces your outstanding principal balance. This alters the schedule, meaning subsequent payments will accrue less interest, which either reduces your remaining tenure (highly recommended) or lowers your monthly EMI.

Interest is always calculated on the outstanding loan balance. Since the outstanding principal is at its maximum at the start of the loan, the interest amount is highest then. As you pay down the principal, the outstanding balance shrinks, reducing the interest charged each month.

You can verify the values against the official notifications listed in our data sources section at the bottom of the page.