Question 1

What is loan amortization?

Accepted Answer

Loan amortization is the process of spreading a loan into a series of fixed payments over time. Each payment covers both the interest accrued that period and a portion of the principal. Early payments are mostly interest; later payments are mostly principal. The schedule shows this breakdown for every payment.

Question 2

How is the monthly payment calculated?

Accepted Answer

The monthly payment (EMI) is calculated using the standard amortization formula: M = P * (r(1+r)^n) / ((1+r)^n - 1), where P is the principal, r is the monthly interest rate (annual rate / 12 / 100), and n is the total number of payments (years × 12). This tool shows the formula, the result, and the full schedule.

Question 3

Can I export the schedule?

Accepted Answer

Yes. Click 'Export CSV' to download the full payment-by-payment schedule as a CSV file you can open in Excel, Google Sheets, or any spreadsheet app. You can also print the page directly from the browser (Ctrl+P / Cmd+P).

Question 4

Does this include extra payments or prepayments?

Accepted Answer

This tool generates the standard equal-payment amortization schedule. For extra payments and prepay scenarios, use the regular Loan & EMI Calculator which supports those options.