An amortisation schedule is the table of a loan, one row per month. Each row shows the opening balance, the interest for that month, the principal inside the EMI, any extra you paid, and the balance you still owe. Add the interest column and you have the cost of borrowing. Add the principal column and you get back to the amount you took.
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EMI, total interest and total payment for a home, car or personal loan.
Open calculatorThe EMI is built so that, at the rate and the tenure you agreed, those rows end at a zero balance. Early rows are mostly interest, because the balance is large. Later rows are mostly principal. That shape is why a prepayment in year 3 saves more interest than the same rupee in year 18. It removes balance that would have earned interest for many months. The EMI guide shows the shape on a full tenure. The prepayment guide shows what one lump sum does to the rows that follow.
A part-payment does not rewrite the months you have already paid. It changes the opening balance of the next month. If you keep the EMI, fewer rows remain. If you cut the EMI and keep the months, the later rows get smaller and the interest column shrinks by less. Ask the lender for the revised schedule and read those two things: the new EMI, and the last month.
The quarterly statement is the short version the Reserve Bank requires. Circular RBI/2023-24/55, as updated on 1 October 2025, says that at the end of each quarter you get the principal and interest recovered so far, the EMI, the number of EMIs left, and the annualised rate for the whole tenure. It is a check on the schedule, not a replacement for it. If the EMIs left do not match what you asked for after a part-payment, write to the lender before the next reset.
Interest in the schedule is also the figure the old-regime deduction starts from. Section 22(1)(b), which was Section 24(b), looks at interest payable, then caps a self-occupied house at ₹2,00,000. The schedule is not the tax return. The lender’s interest certificate is. They should agree.
Keep the old schedule as well as the new one. The difference in the interest column is the saving you are actually getting. If the lender’s yearly interest certificate does not match the sum of the interest rows for that year, ask for a corrected certificate before you put the figure in a return.
Checked on 3 November 2026. A schedule that still shows the old EMI after you asked for a cut is the email you send next.
Questions
Why is the first year mostly interest?
Because the balance is at its largest. Each month’s interest is the rate applied to what you still owe. Principal is the EMI minus that interest. As the balance falls, the interest slice shrinks and the principal slice grows.
What should a revised schedule show after a part-payment?
The new balance, the EMI you asked for, and the months left. If you asked to keep the EMI, the months should fall. If you asked to cut the EMI, the EMI should fall and the remaining months should stay. Check both before you assume the lender did what you wanted.
Is the quarterly statement the same as the full schedule?
It is a summary. The reset circular, updated on 1 October 2025, says the quarterly statement lists principal and interest recovered, the EMI, the EMIs left, and the annualised rate. The full schedule is every month until the balance is zero.
Sources
Figures checked 3 Nov 2026.