Reducing Balance EMI Calculator - Free Amortization Schedule PDF     

Reducing Balance EMI Calculator

 

Calculate your exact monthly payment with start dates & extra payments. See how much interest vs principal you pay each month. Export to PDF.

 
   
     
                     
     
                     
     
                     
     
                     
     
                     
   
             
   
 
   

How Reducing Balance EMI Works

   

Unlike flat-rate loans, a reducing balance loan calculates interest on the outstanding principal each month. As you pay down the principal, your interest portion decreases and principal portion increases. This calculator uses the monthly rest method common in Trinidad & Tobago, India, and the UK.

   

Formula: EMI = P × r × (1 + r)^n / ((1 + r)^n - 1) where P = Principal, r = Monthly Rate, n = Months

   

Extra Payments: Adding extra to your monthly payment reduces total interest and shortens loan term. Every dollar extra goes 100% to principal.