How it works
This calculator applies the standard loan amortization formula to your loan amount, interest rate, and term to find a fixed monthly payment. It then walks through every single payment, splitting each one into principal and interest based on the remaining balance at that point, and tracks the balance down to zero. Early payments are mostly interest since the balance is highest then; later payments are mostly principal. Use the totals to see exactly how much interest you'll pay over the full term, and the table to check the balance or interest paid at any specific point in the loan — useful for deciding whether an early payoff or refinance makes sense.
Loan Amortization Calculator
See your monthly payment and a full payment-by-payment schedule.
FAQ
What is a loan amortization schedule?
It's a table showing every payment over the life of a loan, broken into how much goes to principal versus interest, and the remaining balance after each payment.
Why do early payments have more interest?
Interest is charged on the remaining balance, which is highest at the start of the loan. As the balance shrinks, less of each fixed payment goes to interest and more goes to principal.
Does this work for mortgages and auto loans too?
Yes — the amortization formula is the same for any fixed-rate, fixed-term loan. For a mortgage with taxes and insurance included, use the dedicated Mortgage Calculator instead.
What if my interest rate is 0%?
With 0% interest, each payment is simply the loan amount divided evenly across the number of payments, with no interest portion.
Related tools
Mortgage Calculator · Auto Loan Calculator · Compound Interest Calculator