EMI schedule and amortization

What it is

The EMI schedule is the amortization table of your loan. Lipi builds it from the loan terms and shows one row per EMI: due date, EMI amount, interest, principal, balance after the payment, the interest rate and the status. It works for reducing balance and flat interest loans, and you can edit it like a spreadsheet.

What problem it solves

An EMI is one number, but it hides a changing split. Early EMIs are mostly interest and later ones mostly principal. The schedule shows this row by row, so you see where your money goes and how much interest is still ahead. When your bank’s figures differ from the estimate, you correct them instead of living with the gap.

How it works

1. Add a bank loan in Loans & EMI (see bank loans). Lipi fills the Schedule with rows marked Worked out.
2. Scroll the schedule. Paid EMIs are folded under Show 6 paid EMIs (the number is your count). The next EMI is highlighted.
3. Edit any cell, or paste rows from the bank’s schedule. Bold rows are ones you typed. The rest stay estimates.
4. Tap Calculate the rest to refill the estimated rows after your edits. Tap Recalculate all unpaid to rebuild every unpaid row from the loan terms. Use undo if you do not like the result.
5. Select rows with the checkboxes to mark several EMIs paid at once.
6. Read the Loan over time charts under the table to see the balance fall and where principal overtakes interest.

Details and rules

• Columns: Due (number and date), EMI, Interest, Principal, Balance after, Rate, Status (Not paid, Paid or Worked out).
• Reducing balance: EMI = P x r x (1+r)^n / ((1+r)^n - 1), rounded half-up to the paisa. A rounding tail under Rs 1 folds into the last EMI.
• Flat: interest on the original principal every month, principal split in equal parts.
• Editing a row’s interest or principal does not change its EMI. The other figure absorbs the change.
• Prepayments appear inside the table as their own rows. See loan prepayment.
• Up to 1,200 rows per loan and 600 months of tenure.
• The schedule is a Premium feature. The loan calculator is free.
• Works offline in the installed app.

Works with

• Bank loans
• Loan prepayment
• Loan calculator
• Loan widgets

Ask an AI assistant

With an AI assistant connected to Lipi, send a photo of your bank’s EMI schedule and say “Put this schedule into my home loan.” The assistant reads it with read_document and writes the rows with set_bank_loan_rows. Ask “Show my home loan schedule” and it uses get_bank_loan. To create a loan with an estimated schedule it uses save_bank_loan. These tools need Premium.