What is an Amortisation Calculator?

An Amortisation Calculator is an online calculator that can ultimately give you a very good idea of how your loan repayments will evolve. It will provide you with an amortisation schedule for your loan if you provide the loan amount, interest rate, repayment period, and payment frequency.

This schedule will also show you exactly how much of each monthly installment is applied to interest and how much is applied against the principal balance. So, whether you are considering getting a home loan (or mortgage), a car loan or personal loan, an Amortisation Calculator can be beneficial as it is a useful tool for planning debt management, loan comparisons, and understanding your financial obligations going forward.

Common Searches of Amortisation Calculators:

• Monthly Payment Calculator - A quick estimate or a quick way to assess your EMI.
• Loan Amortisation Schedule Generator - If you want to see the detailed tables showing repayment.
• Loan Repayment Calculator - To determine the total cost of borrowing.

Key Benefits of Using an Amortisation Calculator:

• Instant EMI Calculation - You will know your monthly loan repayment instantly without any hassles.
• Very Detailed Amortisation Table - You can clearly see how your payments divide into principal and interest, and how that can change over time.
• Visual Graphs / Charts - You can visually see how long it is going to take you to pay your loan.
• Loan Comparison Tool - You can easily fiddle with different terms and rates side by side.
• General All-purpose use - You can use it for home loans, auto loans, student loans, and personal loans.

How to Use the Loan Amortisation Calculator:

Using the Loan Amortization Calculator is very simple and only requires the following steps:

1. Enter the Loan Amount - this will be the total amount you borrowed from the lending institution.
2. Enter the Interest Rate (%) - this is the rate the lending institution applies to your loan (on an annual basis).
3. Enter the Loan Length - how long will you have the loan (in months or years)?
4. Enter the Payment Frequency - payment will be monthly, quarterly or annual?
5. Click Calculate.

In just a few seconds, you will have output for the following items:

• Monthly Payment (EMI)
• Total Interest Paid
• Amortization Schedule (table format)
• Payoff Graph with Split of Principal vs. Interest

Disclaimer

The Amortisation Calculator is for informational and educational purposes only. Results are estimates and may vary from actual loan repayment amounts. Always consult your bank or financial advisor before making any borrowing or repayment decisions.