Loan & Mortgage Payment Calculator – EMI & Amortization Schedule

Formulas & Calculation Methodology

            EMI = P × [r(1 + r)ⁿ] / [(1 + r)ⁿ - 1]
          

Monthly EMI is derived using standard fixed-annuity compound discounting formula over the total number of payment periods.

How to Use Loan & Mortgage Payment Calculator

Enter your total borrowed principal loan amount.
Input the annual interest rate offered by your financial institution.
Select your loan tenure in years or months.
Toggle between Fixed EMI or Reducing Balance method to inspect monthly principal vs. interest amortization.

Frequently Asked Questions (FAQ)

What is the difference between Fixed EMI and Reducing Balance loan schedules?

With Fixed EMI, your total monthly payment remains constant throughout the loan term. With reducing balance, you pay a fixed principal each month plus interest on the remaining balance, so payments decrease over time.

Can I view or export the full amortization schedule?

Yes, you can inspect every monthly breakdown showing starting balance, principal paid, interest paid, and remaining balance.