Amortisation schedule for any loan — monthly payment, interest split and payoff with extra payments.
Extra payments go straight to the principal, so they cut both the payoff time and the total interest.
Applied at the start of the loan, before the first monthly payment.
Results update live as you type. An amortization schedule shows, for every payment, how much is interest and how much actually pays down the loan.
monthly payment (principal + interest)
Yearly amortization summary
| Year | Interest | Principal | Balance left |
|---|
How to use this tool
Type the loan amount, the annual interest rate and the term in years. This amortization calculator works out the fixed monthly payment for any amortizing loan — a mortgage, car loan or personal loan.
Open Advanced options and add an extra monthly payment or a one-off lump sum. Extra money goes straight to the principal, which is the fastest way to cut the total interest on a loan amortization schedule.
Each row of the amortization schedule shows how much interest and principal you paid that year and the balance left. Early years are mostly interest; the balance falls faster near the end.
Tap 'Show monthly detail' for the full month-by-month amortization schedule, then copy or share the result.
Formula & worked example
Worked example: a $200,000 loan at 5% over 30 years (360 payments). Monthly payment = $1,073.64. In month 1, interest = $200,000 x 5% / 12 = $833.33 and principal = $1,073.64 – $833.33 = $240.31, leaving $199,759.69. Over the full term you pay $186,511.57 in interest. Add $200 a month extra and the loan clears in 256 months instead of 360, saving $61,160.51 in interest — try it above. The same maths powers a mortgage amortization calculator and a loan amortization calculator.
Limitations — read this before you rely on it
This calculator models a fixed-rate, fully amortizing loan with equal monthly payments. It does not include fees, taxes, insurance, PMI, variable or adjustable rates, payment holidays, or early-repayment penalties, and it assumes payments are made on time every month. Real lender schedules may differ by a few cents due to rounding and payment dates — use your lender's statement for the exact figures.
Frequently asked questions
An amortization schedule is a table showing every payment on a loan, split into interest and principal, with the remaining balance after each payment. Early payments are mostly interest because the balance is highest; as the balance falls, more of each payment goes to principal.
Monthly payment = loan amount x monthly rate / (1 – (1 + monthly rate)^-number of payments). For $200,000 at 5% over 30 years that is $1,073.64 a month. At a 0% rate it is simply the loan amount divided by the number of payments.
Yes, because extra payments cut the balance that future interest is charged on. On a $200,000 loan at 5% over 30 years, an extra $200 a month clears the loan 104 months early and saves $61,160.51 in interest. Even $50 a month makes a visible difference.
Yes — a mortgage is just a large amortizing loan, so the same schedule applies. The difference is that a full mortgage payment also includes property tax, insurance and possibly PMI, which this calculator leaves out; use the separate Mortgage Calculator for the all-in monthly figure.
Interest is charged on the full outstanding balance, which is highest at the start. On a $200,000 loan at 5%, month 1 interest alone is $833.33 of the $1,073.64 payment. As the balance falls, the interest share shrinks and the principal share grows.