Amortization Calculator
Generate a complete amortization schedule showing your payment breakdown over time.
Your Details
Enter your loan details to see a complete amortization schedule and payment breakdown.
Monthly Payment
$0
Payoff: -
Total Interest
$0
Total Paid
$0
Number of Payments
0
Payoff Date
-
Savings with Extra Payments
Amortization Schedule
| # | Date | Payment | Principal | Interest | Balance |
|---|
| Year | Principal | Interest | Total Paid | Balance |
|---|
Complete User Guide
What is an Amortization Schedule?
An amortization schedule shows how each payment is split between principal and interest over the life of the loan. Early payments are mostly interest; later payments are mostly principal. This calculator generates a full schedule and lets you add optional extra monthly payments to see how much interest and time you can save.
Monthly Payment = P × [r(1+r)^n] ÷ [(1+r)^n − 1]
P = principal, r = monthly rate, n = number of payments
Interest for each period = balance × monthly rate. Principal = payment − interest. New balance = previous balance − principal.
Key Concepts
Principal
The amount you borrowed. Each payment reduces the principal until the balance is zero.
Interest
The cost of borrowing. Early in the loan, most of each payment is interest; over time, more goes to principal.
Extra payments
Any amount paid beyond the required payment goes directly to principal, reducing the balance faster and saving interest.
How to Use This Calculator
- Enter the loan amount, annual interest rate, and term in years.
- Optionally set the start month and year for the first payment.
- Optionally enter an extra monthly payment to see interest and time saved.
- Click Calculate Schedule to see the monthly payment, payoff date, total interest, and full schedule.
- Switch between Monthly and Yearly views to see the amortization table.
- Review the breakdown and balance charts and the Complete User Guide below.
Understanding Your Results
Monthly payment
The fixed amount you pay each month. It stays the same; the split between principal and interest changes over time.
Payoff date
The date the loan balance reaches zero. With extra payments, this date is earlier than the original term.
Total interest
The sum of all interest payments over the life of the loan. Extra payments reduce this amount.
Schedule table
Each row shows payment number, date, payment amount, principal, interest, and remaining balance. Use Monthly or Yearly view.
Understanding the Charts
Breakdown chart
Shows the total amount paid split into principal vs interest. You can see at a glance how much of your total payments go to interest.
Balance chart
A line chart of the remaining balance over time. The curve shows how the balance decreases; with extra payments, the line drops faster.
Important Notes
- This is for estimation only. Actual schedules may vary with rounding or lender policies.
- Most fixed-rate loans (mortgages, auto, personal) use amortization. Some loans have different structures.
- Confirm with your lender that extra payments are applied to principal and do not incur penalties.