See your full loan amortization schedule month by month — including how extra payments shorten the term and cut interest.
Educational use only. This calculator produces estimates from published formulas and does not constitute financial or legal advice. For real decisions, consult a qualified financial planner or accountant.
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Amortization is the process of paying down a loan with regular instalments. Each payment splits into interest (a percentage of the outstanding balance) and principal (the rest, which actually reduces the loan). Early in the loan, most of the payment is interest. As the balance falls, the interest portion shrinks and the principal portion grows.
The calculator shows the split for every month, so you can see exactly when you cross the halfway point in principal repaid (often well past the halfway point in time) and how much interest you have paid so far. Seeing the schedule month by month makes prepayment decisions much easier.
Adding even a small extra principal payment each month has a disproportionate impact. An extra 5–10% on top of the EMI can shave years off a long mortgage and save substantial interest. The "extra monthly payment" field lets you see the impact directly.
Because at the start of a long loan, 70–80% of each payment is interest. The principal only starts to shrink meaningfully after several years.
A rough rule: if your loan interest rate is higher than what you can earn after-tax on safe investments, prepay. If the loan rate is low (3–4% mortgage) and you can invest at higher expected return, investing usually wins long-term.
It depends on the lender and the loan type. Many countries cap or ban prepayment fees on home loans. Check the loan agreement before making large prepayments.
Yes — enter the equipment cost as the loan amount and your lender's rate to see the monthly EMI. For a full side-by-side of the loan payment vs the electricity revenue the system generates, use the Power Generation Planner: it computes payback, IRR and 25-year NPV directly.
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