Best Loan Amortization Calculator India
Amortization Schedule
| Month |
Principal |
Interest |
Total Payment |
Remaining Balance |
function calculateLoanAmortization() {
const loanAmount = parseFloat(document.getElementById(‘loanAmount’).value);
const loanTerm = parseInt(document.getElementById(‘loanTerm’).value);
const interestRate = parseFloat(document.getElementById(‘interestRate’).value);
if (isNaN(loanAmount) || isNaN(loanTerm) || isNaN(interestRate) || loanAmount <= 0 || loanTerm <= 0 || interestRate <= 0) {
alert("Please enter valid values.");
return;
}
const monthlyRate = interestRate / 100 / 12;
const numberOfPayments = loanTerm * 12;
const monthlyPayment = loanAmount * monthlyRate / (1 – Math.pow(1 + monthlyRate, -numberOfPayments));
const amortizationTable = document.getElementById('amortizationTable').getElementsByTagName('tbody')[0];
let remainingBalance = loanAmount;
for (let month = 1; month <= numberOfPayments; month++) {
const interestPayment = remainingBalance * monthlyRate;
const principalPayment = monthlyPayment – interestPayment;
remainingBalance -= principalPayment;
const row = amortizationTable.insertRow();
row.insertCell(0).textContent = month;
row.insertCell(1).textContent = principalPayment.toFixed(2);
row.insertCell(2).textContent = interestPayment.toFixed(2);
row.insertCell(3).textContent = monthlyPayment.toFixed(2);
row.insertCell(4).textContent = remainingBalance.toFixed(2);
}
document.getElementById('loanAmortizationResult').style.display = 'block';
}
