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Mortgage Amortization Calculator

Enter your loan amount, interest rate, and tenure to generate a complete year-by-year and month-by-month payment schedule — showing exactly how much of each EMI goes to principal vs. interest. Export the full schedule as a CSV.

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Formula: EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1) — where P = principal, r = monthly rate, n = total months.

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Disclaimer: This calculator is provided for educational and informational purposes only. Results are estimations assuming a fixed interest rate for the full tenure and do not account for prepayment charges, processing fees, floating-rate resets, or taxes. Results do not constitute professional financial or mortgage advice. Consult your lender or a qualified financial advisor for exact figures.

How Loan Amortization Works

Every EMI payment is split between interest (calculated on your current outstanding balance) and principal (which reduces that balance). Because interest is charged on a shrinking balance, the interest portion of your EMI decreases every month while the principal portion increases — even though the EMI itself stays flat.

EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1)

Where P = loan principal, r = monthly interest rate (annual rate ÷ 12 ÷ 100), n = total number of monthly installments (years × 12). Each month: Interest = Balance × r, Principal Paid = EMI − Interest, New Balance = Balance − Principal Paid.

Step-by-Step Worked Example

A ₹50,00,000 loan at 8.5% for 20 years (240 months):

  1. Step 1: Monthly rate r = 8.5 ÷ 12 ÷ 100 = 0.007083
  2. Step 2: EMI = 50,00,000 × 0.007083 × (1.007083)240 ÷ ((1.007083)240 − 1) = ₹43,391
  3. Month 1: Interest = 50,00,000 × 0.007083 = ₹35,417; Principal = 43,391 − 35,417 = ₹7,974; New balance = ₹49,92,026
  4. Result: Over 20 years, total interest paid = ₹54,13,879 — more than the original loan amount, illustrating why the interest rate and tenure matter so much.

How Tenure Affects Total Interest

TenureEMITotal Interest PaidTotal Paid
10 years₹61,993₹24,39,141₹74,39,141
15 years₹49,237₹38,62,656₹88,62,656
20 years₹43,391₹54,13,879₹1,04,13,879
25 years₹40,261₹70,78,406₹1,20,78,406

Illustrative figures based on a ₹50 lakh loan at 8.5% p.a. A longer tenure lowers your EMI but substantially increases total interest paid.

Frequently Asked Questions

EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of monthly installments.
Interest is calculated on the outstanding balance, which is highest at the start. As the balance shrinks with each payment, the interest portion shrinks and the principal portion grows — even though the EMI stays constant.
Yes. Click "Export Full Schedule (CSV)" to download the complete month-by-month schedule — payment number, date, EMI, principal, interest, and remaining balance — as a CSV file you can open in Excel or Google Sheets.
For a standard fixed-rate loan, no — the EMI stays constant for the entire tenure. Only the split between principal and interest changes. Floating-rate loans can see the EMI or tenure change whenever the bank revises rates.