Full detail
Every payment, to the rupee
240 payments across 21 years, every rupee accounted for
21 years match
| # | Date | Opening | EMI | Interest | Principal | Prepayment | Closing |
|---|---|---|---|---|---|---|---|
| ₹45,00,000 | ₹1,15,029 | ₹92,659 | ₹22,369 | — | ₹44,77,631 | ||
| ₹44,77,631 | ₹4,60,115 | ₹3,65,895 | ₹94,221 | — | ₹43,83,410 | ||
| ₹43,83,410 | ₹4,60,115 | ₹3,57,821 | ₹1,02,295 | — | ₹42,81,115 | ||
| ₹42,81,115 | ₹4,60,115 | ₹3,49,055 | ₹1,11,061 | — | ₹41,70,055 | ||
| ₹41,70,055 | ₹4,60,115 | ₹3,39,538 | ₹1,20,578 | — | ₹40,49,477 | ||
| ₹40,49,477 | ₹4,60,115 | ₹3,29,205 | ₹1,30,910 | — | ₹39,18,567 | ||
| ₹39,18,567 | ₹4,60,115 | ₹3,17,987 | ₹1,42,128 | — | ₹37,76,439 | ||
| ₹37,76,439 | ₹4,60,115 | ₹3,05,808 | ₹1,54,307 | — | ₹36,22,132 | ||
| ₹36,22,132 | ₹4,60,115 | ₹2,92,585 | ₹1,67,530 | — | ₹34,54,601 | ||
| ₹34,54,601 | ₹4,60,115 | ₹2,78,229 | ₹1,81,886 | — | ₹32,72,715 | ||
| ₹32,72,715 | ₹4,60,115 | ₹2,62,643 | ₹1,97,473 | — | ₹30,75,243 | ||
| ₹30,75,243 | ₹4,60,115 | ₹2,45,721 | ₹2,14,394 | — | ₹28,60,848 | ||
| ₹28,60,848 | ₹4,60,115 | ₹2,27,349 | ₹2,32,766 | — | ₹26,28,082 | ||
| ₹26,28,082 | ₹4,60,115 | ₹2,07,403 | ₹2,52,713 | — | ₹23,75,369 | ||
| ₹23,75,369 | ₹4,60,115 | ₹1,85,747 | ₹2,74,368 | — | ₹21,01,001 | ||
| ₹21,01,001 | ₹4,60,115 | ₹1,62,236 | ₹2,97,879 | — | ₹18,03,122 | ||
| ₹18,03,122 | ₹4,60,115 | ₹1,36,710 | ₹3,23,405 | — | ₹14,79,717 | ||
| ₹14,79,717 | ₹4,60,115 | ₹1,08,997 | ₹3,51,118 | — | ₹11,28,599 | ||
| ₹11,28,599 | ₹4,60,115 | ₹78,909 | ₹3,81,206 | — | ₹7,47,392 | ||
| ₹7,47,392 | ₹4,60,115 | ₹46,243 | ₹4,13,873 | — | ₹3,33,520 | ||
| ₹3,33,520 | ₹3,45,089 | ₹11,570 | ₹3,33,520 | — | ₹0 | ||
Amortization schedule
Build your plan on the left. Watch it pay off on the right.
No Calculate button — every number updates as you type, and each figure traces back to a row in your schedule.
Your loan
What you owe today
Your prepayments
Lump sums or top-ups
Choose the outcome
Shorter loan or lower EMI
Results, live
No Calculate button
Your loan
What you owe today
Computed from the numbers above.
Your prepayment plan
Nothing scheduled yet
Add one below — a lump sum from a bonus, a small monthly top-up, or a yearly payment. Results update instantly.
What should prepaying do?
The single most important choice here
Advanced optionsPayment frequency, rate changes, fees — optional
Payment mechanics
Interest rate changes
The EMI is recomputed over the tenure remaining — tenure held, EMI moves. Check your bank's reset letter: on a floating-rate home loan many Indian lenders do the opposite.
Tax relief
Fees & charges
Usually zero — RBI bars these on floating-rate loans to individuals. Include any GST your lender adds.
Net benefit after fees
₹0
No fees entered, so the whole saving is yours.
Where you stand after
Side by side
Your loan with your plan, and without it
Two futures for the same loan. The right-hand column is the one you're building.
Interest you keep
₹0
add a prepayment to see the gap
Time you get back
—
no time saved yet
Every figure here is the last row of the matching schedule below — nothing is estimated separately.
Visual proof
Add a prepayment and watch this curve bend
The dashed line is your loan as it stands today.
Where each year's instalments go
Interest outweighs principal until 2038 — which is why a prepayment made before then removes the most.
What waiting costs you
What ₹5.00 L removes from your interest bill, by the date you pay it.
Paid now it removes ₹16.22 L. Wait twelve months and it removes ₹14.81 L — ₹1.40 L less for the same money.
How we calculate
No black box. Six rules produce every number here.
The same six a lender applies to your account each month. Read them, check them against your statement, then trust the schedule.
Interest accrues on your opening balance each period. On the default settings — monthly payments, monthly compounding — that is your annual rate divided by twelve, which is standard reducing balance. Change the payment frequency and the rate is converted so your effective annual rate stays the same.
A prepayment goes entirely to principal. Nothing is applied to interest, which is why the next period costs you less.
No period ever pays more than the balance plus its interest, so the loan settles at exactly zero and can never go negative.
On a rate change the EMI is recomputed over the tenure remaining — tenure held, EMI moves.
Both futures are run through the same engine on the same rate path, so the comparison is fair.
Every headline figure is the last row of its schedule. Nothing on this page is estimated a second way.
Questions people ask
Why does the last payment differ from the rest?
Because the final instalment is trued up to settle the balance exactly. Paying the full EMI would overshoot into a negative balance, so the last row pays only the remaining balance plus that period's interest. This is also why the schedule ends at exactly zero rather than at a few paise either side.
Can I download the schedule?
Yes — as a real Excel workbook, with the schedule, your inputs and the summary on separate sheets. The file is generated inside your browser, so nothing about your loan is transmitted to produce it. There is also a printable report.
Does my lender have to give me an amortization schedule?
For retail and MSME term loans sanctioned on or after 1 October 2024, yes. RBI's April 2024 direction on the Key Facts Statement requires the KFS to include the amortisation schedule, along with a sheet showing how the annual percentage rate is computed. Compare its rows with this schedule: a gap usually traces to the balance, a rate change, or daily interest.
What should I enter as the outstanding balance?
What you still owe today, from your latest statement — not the amount you originally borrowed. This is the single most common mistake, and it changes every number on the page.
Will my bank charge me to prepay?
On a floating-rate home loan to an individual, almost certainly not. Longstanding RBI guidance already barred foreclosure and prepayment charges on floating-rate home loans to individual borrowers, and the Reserve Bank of India (Pre-payment Charges on Loans) Directions, 2025 widened that for loans sanctioned or renewed on or after 1 January 2026 — for individuals borrowing for purposes other than business, irrespective of the source of the funds, with or without a co-obligant, and with no minimum lock-in. Fixed-rate loans are treated differently and may still carry a charge, calculated on the amount you prepay. Check your sanction letter and your lender's current schedule of charges, then enter anything that applies — including any GST the lender adds to it — under Advanced options, and the net benefit updates. Verified against the 2025 Directions on 10 September 2026.
Why does my bank's number differ slightly?
This calculator uses the standard monthly reducing balance — interest at your annual rate divided by twelve, on the balance at the start of each month — and a prepayment takes effect from your next scheduled payment. Some lenders compute interest on a daily reducing balance with monthly rests, and credit a prepayment on the day you make it. Either way you will save a little more than shown, and the difference is small: at most about one month of interest on the amount prepaid.
Where does my data go?
Nowhere. Every calculation runs in your browser. There is no account, no tracking of your loan values, and no server round-trip to compute any of this.
Why you can check this one
Independent
Not a lender, not a broker, not affiliated with anyone who is. Nothing here is ranked by what it pays us, because nothing pays us. There are no ads and no lead generation.
Checkable
Every figure is the last row of a schedule you can expand, read and download. The rules the engine follows — the rate conversion, the rounding points, how a prepayment is timed — are published in full, along with every place we knowingly differ from a lender.
Honest about limits
It models the loan, not your life. It does not know your lender's exact day-count conventions, your emergency fund or your tax position — and it will tell you when prepayment costs more than it saves rather than showing you a zero.
Nothing you type is sent anywhere. No account, no tracking of your loan details, nothing stored on a server. How that works.
Read the full methodology — the exact rate conversion, where rounding is applied, how we time a prepayment, and every choice we make differently from a lender, with the reasoning for each.
In plain terms
How to read an amortization schedule
Six columns, one row per payment, and every headline figure on this page is the last row of one of them.
Each row is one scheduled payment. The opening balance is what you owe before it. The interest column is that opening balance multiplied by your periodic rate. The principal column is whatever is left of the instalment after the interest is taken, plus any prepayment made that period. The closing balance is the opening balance minus the principal — and it becomes the next row's opening balance. That is the entire mechanism; there is nothing else in it.
Read down the interest column and you can see the shape of the loan. It starts high and falls every period, because the balance it is charged on is falling. Read down the principal column and you see the mirror image. The two cross once, and everything after that crossing is the part of the loan that repays quickly. A prepayment does not change the mechanism — it just moves the crossing point earlier, which is why the rows after it look like rows from much later in the original loan.
Use the schedule to reconcile against your own statement rather than trusting either blindly. Pick any month, compare the interest charged, and if the two disagree, the cause is almost always one of three things: an outstanding balance that is not what you entered, a rate that changed on a date you have not recorded, or a lender that accrues interest daily rather than per period. The Delta and Side-by-side views let you compare the schedule with your prepayment plan against the one without it, row for row.
- Rows
- One per scheduled payment, grouped by year. Click a year to expand it.
- Views
- With plan, Original, Delta (the difference), and Side by side.
- Export
- Download the whole schedule as a real .xlsx workbook. Built in your browser — the file is never uploaded anywhere.
How it's calculated
The working behind the number
This amortization schedule lists every remaining payment on your home loan. For each one it shows the opening balance, the interest charged on it at your annual rate ÷ 12, the principal repaid including any prepayment, and the closing balance, which becomes the next row's opening balance. Rows are grouped by year, and every total on the page is a sum of these rows, with and without your prepayments.
Formula
Interestₖ = Balanceₖ₋₁ × r · Principalₖ = EMI − Interestₖ + Prepaymentₖ · Balanceₖ = Balanceₖ₋₁ − Principalₖ
- Balanceₖ₋₁
- Row k's opening balance — the previous row's closing balance.
- r
- The monthly rate: your annual rate ÷ 12.
- EMI
- The monthly instalment, from EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), or the figure you type.
- Prepaymentₖ
- Any prepayment falling due at row k; zero in the Original view.
- Balanceₖ
- Row k's closing balance.
Assumptions and limits
- One row per monthly payment, with interest at the annual rate ÷ 12 on that row's opening balance.
- Interest, EMI, principal and closing balance are each rounded to the paisa, so every row reconciles exactly and the last closes at zero.
- The final EMI is reduced to whatever settles the balance, so it is usually smaller than the rest.
- A prepayment appears on the first scheduled payment on or after its date; a rate change applies from the first payment on or after its effective date.
- Lenders that compute interest daily will show slightly different interest in each row.
A worked example
Take ₹45,00,000 outstanding at 8.25% a year, with 20 years (240 monthly payments) of tenure left.
- Monthly rate r = 8.25% ÷ 12 = 0.6875%.
- Each EMI of ₹38,343 pays that month's interest first; the rest reduces the balance.
- In the first twelve payments, ₹3,67,812 goes to interest and ₹92,304 to principal.
Principal first exceeds interest at payment 140, in May 2038.
Computed by the calculator on this page, from the figures it opens with.
Sources
- RBI, Key Facts Statement for Loans & Advances (RBI/2024-25/18, 15 April 2024): for retail and MSME term loans sanctioned on or after 1 October 2024 the KFS must include the amortisation schedule and an APR computation sheet — checked 10 September 2026
By The CutYears team · Last reviewed 10 September 2026 · Full methodology