Loan EMI & Amortization Calculator
Accurate Monthly Installments & Schedules
Calculate exact monthly loan EMIs, interest payable, and payment schedules for personal, car, or home loans with reducing balance interest.
Loan EMI & Amortization Schedule Calculator
Calculate your exact monthly Equated Monthly Installment (EMI), total interest payable, and year-by-year principal vs. interest amortization breakdown for home loans, auto loans, and personal loans in India.
Reducing Balance Amortization Methodology
Indian banks compute interest using the reducing balance method. Early installments consist predominantly of interest payments, with principal reduction accelerating during the latter half of the loan tenure. Pocket Advisor reveals your exact repayment schedule so you can identify the optimal time for prepayments.
Interest Reduction Hacks
Learn 3 mathematical strategies to save lakhs in interest in our EMI vs Total Interest Loan Guide, or compare prepaying your loan against investing with our Prepayment vs SIP Calculator.
Frequently Asked Questions
How is reducing balance loan EMI calculated?
Monthly loan EMI is calculated using the formula E = P × r × (1 + r)^n / ((1 + r)^n - 1), where interest is recalculated monthly on the remaining outstanding principal. As monthly payments reduce the principal, less interest is charged in subsequent months.
Can I view a year-by-year loan amortization schedule?
Yes. The calculator outputs an annual amortization schedule showing opening balance, EMI paid, principal repaid, interest charged, and closing balance across the complete tenure.