Home Loan EMI Payment

Home Loan Amortization Schedule

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What is an Amortization Schedule in Home Loan and How to Calculate It?

A home loan amortization schedule is something that you should understand when it comes to your home loan. You can always use a home loan amortization calculator to work out the entire thing. You will mostly get an amortization chart for home loan from your lender. Here is what the schedule comprises of:

Installment Number - Every EMI will have a serial number with payment details in corresponding rows.
Due Date - This is the date on which each loan payment will be due.
Opening Principle - This is the principal amount at the start of each month on which interest will be charged.
Installment Amount - This is the EMI or monthly repayment amount which can change with interest rate fluctuations over several years.
Principle Component of Installment - This is the EMI component that goes into repaying the principal home loan amount.
Interest Component of Installment - This is the EMI component allocated for repaying interest on the opening principal amount. Initially, EMIs contain more of the interest component and steadily the reverse keeps happening with the passage of time.
Closing Principle - This is the remaining principle post every month’s EMI payment. This is equal to the opening principle for the next month.
Interest Rate Per Annum - This is the interest rate per annum or yearly and may vary based on the lender. Home Loan Interest Rate impacts the EMI that you have to pay each month.


These are the key components of the home loan amortization schedule. Use the Home Loan EMI Calculator to get the amortization chart for Home Loan.

Also Read: How to Calculate Home Loan EMI?