Build a loan amortization schedule showing the interest, principal and remaining balance for each year or month, with the monthly payment. Enter your values; the result updates as you type, with the method shown below.
About this calculator
An amortization schedule shows, payment by payment, how a fixed-rate loan is repaid. The monthly payment stays the same, but its split changes: at the start most of it is interest, and at the end most of it repays the capital. The table also shows the balance still owed after each period.
Enter the amount borrowed, the annual rate and the duration. The calculator gives the payment, the total interest and the schedule by year or by month.
When to use it
- Knowing how much you still owe at a given date, for example before selling.
- Seeing how much interest you pay in the first years.
- Deciding when an early repayment is most useful.
- Checking the table provided by your lender.
How to read the result
Interest each month equals the remaining balance times the monthly rate. Because the balance is highest at the start, so is the interest. This is why an extra repayment early in the loan saves the most.
The total interest is the sum of the interest column. The schedule excludes insurance and fees, which lenders add separately.
Mistakes to avoid
- Expecting the balance to fall in a straight line.
- Forgetting that insurance is not part of the amortization.
- Comparing loans of different durations by monthly payment only.
Formula
M = C × i / (1 − (1 + i)^−n); interest = balance × i; principal = M − interest
Worked example
200,000 at 3.5% over 20 years: payment 1,159.92 and total interest 78,380.
Frequently asked questions
Why is interest higher at the start?
Interest is charged on the balance, which is largest at the beginning.
Does it include insurance?
No, add borrower insurance separately.
Can I see every month?
The monthly view shows the first 36 months; the yearly view covers the whole loan.
Why does the balance fall slowly at first?
Because most of the early payments go to interest, so little capital is repaid.
What does an extra payment change?
It reduces the balance immediately, so all future interest is lower. You can shorten the loan or lower the payment.
Is this the same as a mortgage table?
Yes, for a fixed-rate loan with constant payments.
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Results are estimates for information only. Check important figures with a professional.