Home Loan Amortization Calculator India
Interactive home loan repayment schedule with extra prepayments, interest savings, and CSV download.
- Runs in your browser
- Free, no signup
Loan Parameters
Optional Prepayments & Early Payoff
Amortization Schedule
| Year | Opening Balance | Principal Paid | Interest Paid | Extra Payment | Total Paid | Closing Balance |
|---|
Your home loan figures and financial inputs remain on your device and are never sent to our servers.
A home loan is typically the largest financial commitment an individual undertakes, often spanning 15 to 30 years. Because home loans in India use reducing-balance amortization, early payments consist overwhelmingly of interest rather than principal repayment.
This calculator generates a complete month-by-month and year-by-year amortization schedule for your mortgage. It models extra monthly prepayments and lump-sum payments to show exactly how many lakhs of interest you can save and how many years you can shave off your loan.
How to use this tool
- Enter your loan amount (principal), annual interest rate (e.g. 8.5%), and tenure in years.
- Optionally expand the Prepayments section to enter an extra monthly payment or a one-time lump-sum prepayment.
- Choose your prepayment strategy: reduce loan tenure (keep EMI same) or reduce monthly EMI.
- Review the interest savings summary and interactive schedule, or click "Export CSV" to download the schedule.
How Prepayments Dramatically Slash Mortgage Interest
Every rupee paid as a prepayment directly reduces the principal balance. Because subsequent monthly interest is computed strictly on the remaining principal, prepaying even ₹5,000 to ₹10,000 per month can save 30% to 50% of the total interest burden.
Choosing "Reduce Tenure" is mathematically superior to "Reduce EMI", as keeping your EMI constant allows faster compounding of principal repayment.
The Reducing-Balance EMI Formula
EMI is calculated using the formula: EMI = [P × r × (1 + r)^n] / [(1 + r)^n - 1], where P is principal, r is the monthly interest rate (annual rate / 12 / 100), and n is total months.
Each month, interest = Opening Balance × r, and Principal Repayment = EMI - Interest. ToolDuck ensures paise-exact rounding so your closing balance hits zero on the final month.
Frequently asked questions
Are there prepayment penalties on home loans in India?
Under Reserve Bank of India (RBI) regulations, banks and housing finance companies (HFCs) cannot charge prepayment penalties or foreclosure fees on floating-rate individual home loans.
Is it better to reduce tenure or reduce EMI when prepaying?
Reducing tenure saves significantly more interest because the loan is paid off earlier. Reducing EMI is better only if you require immediate monthly cash-flow relief.
Can I export the amortization schedule to Excel or Google Sheets?
Yes. Click the "Export CSV" button to download the complete schedule in standard RFC 4180 CSV format compatible with Microsoft Excel, Google Sheets, and Apple Numbers.