Amortization Schedule Calculator
See exactly how a loan is paid off month by month. Enter the loan amount, the annual interest rate and the term in months to get the monthly payment and a complete amortization table showing how much of each payment goes to principal versus interest, and how the balance falls to zero. Add an optional extra monthly payment to see how much faster you would be debt free.
How to use the amortization schedule calculator
- Enter the loan amount, the annual interest rate and the term in months.
- Optionally add an extra amount you would pay every month on top of the scheduled payment.
- Review the monthly payment, total interest and the month-by-month (or yearly) schedule, then copy or export it.
Examples
200,000 loan at 6% over 30 years
Loan 200,000, rate 6%, term 360 months
Monthly payment 1,199.10, total interest about 231,677, balance reaches 0 in month 360
Same loan with 200 extra each month
Loan 200,000, rate 6%, term 360 months, extra payment 200
Paid off in 252 months instead of 360, saving roughly 80,000 in interest
Frequently asked questions
What is an amortization schedule?
It is a table that lists every payment over the life of a loan. Each row shows the payment amount, how much goes to interest, how much goes to principal, and the remaining balance. Early payments are mostly interest; later payments are mostly principal.
How is the monthly payment calculated?
We use the standard formula: the loan amount times the monthly rate, times (1 plus the monthly rate) raised to the number of months, divided by ((1 plus the monthly rate) raised to the number of months, minus 1). The monthly rate is the annual rate divided by 12. If the rate is 0, the payment is simply the loan amount divided by the number of months.
How do extra payments work here?
Any extra amount you enter is added to every scheduled payment and goes straight to principal. That shrinks the balance faster, so the loan is paid off in fewer months and you pay less total interest. The schedule stops on the month the balance reaches zero.
Why is so much of my early payment interest?
Interest each month is charged on the outstanding balance, which is highest at the start. As the balance falls, the interest portion shrinks and more of each fixed payment chips away at the principal. This is why amortization is front loaded with interest.
Does this include taxes, insurance or fees?
No. The schedule covers principal and interest only. For a mortgage your real housing payment also includes property taxes, homeowners insurance, PMI and any HOA dues, which this tool does not model.
Is my data private?
Yes. The whole calculation runs in your browser. Nothing you type, and no schedule you generate, is sent to a server or stored anywhere.
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