Loan Balance Calculator
Key takeaways
- After 60 of 240 EMIs you have paid ₹20.83 L — ₹16.08 L went to interest and ₹4.75 L to principal (11.87% of the loan).
- 77.2% of every rupee paid so far went to interest; ₹35.25 L is still outstanding.
- The balance falls below half the loan only in month 166 (year 14 of 20) — principal repayment accelerates toward the end.
- At 8% instead of 8.5%, total interest would be ₹99,384 lower — ₹15.08 L in all.
Payment schedule
You are 60 EMIs in (year 5 of 20) — rows up to month 60 are already paid; the rest is what remains.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹79,609 | ₹3.37 L | ₹39.20 L |
| 2 | ₹86,646 | ₹3.30 L | ₹38.34 L |
| 3 | ₹94,305 | ₹3.22 L | ₹37.39 L |
| 4 | ₹1.03 L | ₹3.14 L | ₹36.37 L |
| 5 | ₹1.12 L | ₹3.05 L | ₹35.25 L |
| 6 | ₹1.22 L | ₹2.95 L | ₹34.04 L |
About the Loan Balance Calculator
Every EMI covers that month's interest first, with only the remainder reducing the principal. That is why an outstanding loan balance does not fall in a straight line even though the EMI never changes: early instalments repay mostly interest and very little principal, later ones do the reverse.
This calculator recomputes the EMI from the original loan amount, rate and tenure, then works out how far that EMI has amortised the loan after the number of instalments already paid — the principal still owed, the split of what has been paid so far into interest and principal, and the share of the original loan repaid. It assumes every EMI was paid on time and in full, with no prepayments and no missed instalments.
Frequently asked questions
How is the outstanding balance on a loan calculated?
Outstanding = P × (1+i)^k − EMI × [(1+i)^k − 1] ÷ i, where P is the original loan, i the monthly rate (annual ÷ 1200) and k the EMIs already paid. It is the original principal grown for k months of interest, less the future value of the k instalments already made.
Why is the "% of loan repaid" so much lower than the share of months paid?
Because principal repayment accelerates over the life of a loan. At the default figures, 60 of 240 EMIs — a quarter of the months — have repaid under 12% of the principal, since most of each early EMI went to interest. The two percentages only converge near the end of the tenure.
Does this match the outstanding balance on my lender's statement?
It will be close if the loan has run exactly to schedule at a fixed rate. It will not match if the rate has been reset (most Indian home loans are floating), if any instalment was missed or paid late, if a prepayment was made, or if fees have been added to the principal. Treat the figure as a reconstruction from the four inputs, not a statement of account.
What happens to the balance if I prepay?
A lump sum goes straight to the outstanding principal, and every subsequent month's interest is then charged on the smaller balance. This calculator assumes no prepayments; the Loan Prepayment calculator on this site models what one does to the tenure, the EMI and the total interest.
Why does the schedule start at month 1 rather than at the EMIs I have paid?
Because the amortisation path itself does not change — where you stand on it is what the "EMIs paid so far" field marks. The table shows the full tenure so the rows already behind you and the rows still ahead can be read against each other.
Disclaimer: This calculator is for information and education only. It is not investment advice and not a recommendation, and it is not a loan offer. The lender decides the actual interest rate, EMI, fees and eligibility, and whether insurance cover is required, and a floating rate can change during the loan. Charges you did not enter are not included. Every figure is computed solely by applying the formula and assumptions stated on this page to the inputs you entered.