Amortization Schedule Calculator
See how your loan balance declines over time and how each payment is split between principal and interest.
Loan Details
The total amount you are borrowing.
The length of the loan in years.
Extra months beyond full years. Used for loans that are not an exact number of years.
Annual interest rate (APR) for the loan. Used to calculate monthly interest charges.
The best investment you can make is in yourself. The second best is paying off your mortgage.
About this calculator
This Amortization Schedule Calculator shows how a loan is paid off over time using fixed monthly payments.
It breaks down each payment into principal and interest, helping you understand how much of your payment goes toward reducing the loan balance versus paying interest.
Use this calculator to better understand the true cost of borrowing and how loan terms affect long-term payments.
What each input means
- Loan amount is the total amount borrowed.
- Loan term is how long you have to repay the loan, expressed in years and months.
- Interest rate is the annual percentage rate (APR) used to calculate interest.
- Monthly payment is the fixed amount paid each month, including principal and interest.
How does loan amortization work?
Loan amortization is the process of paying off a loan through regular, fixed payments over time.
Each payment includes interest, which is calculated on the remaining loan balance, and principal, which reduces the loan balance.
Early in the loan, a larger portion of each payment goes toward interest because the balance is highest. As the balance decreases, more of each payment goes toward principal and less toward interest.
This calculator shows the exact breakdown of each payment so you can see how your loan progresses month by month.
Factors that affect your amortization schedule
- Interest rate – Higher rates increase both monthly payments and total interest paid.
- Loan term – Longer terms lower monthly payments but increase total interest; shorter terms raise payments but reduce interest.
- Loan amount – Larger loans result in higher payments and more interest over time.
Key assumptions & limitations
- Fixed interest rate – Assumes a fixed interest rate.
- On-time payments – Payments are made on time and in full.
- No taxes or fees – Does not include taxes, insurance, or fees.
- No extra payments or refinancing – Does not account for extra payments or refinancing.
- Estimates only – Results are estimates, not financial advice.
This calculator is designed for understanding loan mechanics, not personalized lending decisions.