A loan amortization schedule is a detailed version of the process of repayment of the loan. The features of this schedule are:
• It categorically splits the EMI into two parts covering the interest paid towards the loan and the principal amount. The former EMIs constitute the interest whereas the latter EMIs cover the repayment of the principal amount of the loan
• The amortization schedule constitutes complex and difficult mathematical calculations and can be obtained by the lender.
• This schedule gives out relevant and useful information which can used for prepayment or refinancing of the loan, interest details which can be used for avail tax exemptions ata a later stage and much more.