Calculate your monthly loan payment, total interest cost, estimated payoff date, and detailed month-by-month amortization schedule.
Enter your loan details to generate a complete schedule.
| Payment | Date | Beginning Balance | Payment | Principal | Interest | Extra | Ending Balance |
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A loan amortization calculator shows how a fixed-rate loan is repaid over time. It divides each monthly payment into principal and interest, helping you understand how quickly your outstanding balance will decrease.
During the early part of most amortized loans, a larger portion of each payment goes toward interest. As the remaining balance becomes smaller, more of each payment is applied to the principal.
Add the original principal amount you plan to borrow.
Enter the annual interest rate and the repayment period in years.
The calculator uses this date to create the monthly repayment timeline.
Check monthly payments, interest, principal reduction, and estimated payoff date.
For a fixed-rate loan, the standard amortization formula calculates the required monthly principal and interest payment.
M is the monthly payment, P is the principal, r is the monthly interest rate, and n is the total number of monthly payments.
Learn more about loan payments, interest, amortization, and early repayment.
An amortized loan is repaid through regular scheduled payments. Each payment includes both interest and principal, gradually reducing the outstanding loan balance to zero.
It shows every scheduled payment, payment date, beginning balance, interest charged, principal paid, extra payment, and remaining balance.
Yes. When an extra payment is applied directly to principal, the outstanding balance decreases faster. This can shorten the repayment period and reduce future interest charges.
No. The calculated payment includes loan principal and interest only. Property taxes, insurance, lender fees, closing costs, and other charges are not included.
Interest is calculated using the outstanding balance. Because the balance is highest at the beginning of the loan, the interest portion is also higher during the early payments.
It can estimate payments for many fixed-rate, fully amortized loans, including mortgages, personal loans, auto loans, business loans, and student loans.
The results are estimates based on the information entered. A lender may use different rounding methods, payment dates, fees, or compounding rules.