Personal loan amortization schedule is a detailed table of periodic payments to be made during the loan tenure. Lenders use an amortization calculator to prepare this schedule. Amortization is a calculation method that specifies the repayment of the loan through EMIs over a chosen tenure.
It provides a detailed breakdown of the portion of principal and interest involved in each EMI payable, till the completion of the loan repayment. This schedule gives the borrower complete details about the principal and interest involved in each EMI.