Work out loan balance after n payments instantly with clear inputs, formula shown and shareable results.
The balance after k payments is the original loan grown at the monthly rate less the accumulated value of the instalments made. Because early instalments are interest-heavy, the share of principal cleared lags well behind the share of the tenure elapsed.
Remaining balance
B_k = P(1+r)^k - EMI·((1+r)^k - 1)/r
Figures are estimates. Lenders apply their own rounding, fees and eligibility rules, and rates change. This is not financial advice — confirm the numbers with your lender.
Interest is front-loaded on a large balance. On a 20-year loan at 8.5% only about a fifth of principal clears in the first five years.
It should be close. Small differences arise from rounding, payment dates and any fees added to the account.