Amortization Schedule Calculator

See a full amortization schedule for any loan, how each payment splits between interest and principal, and how the balance falls year by year. Add extra payments to see the payoff shrink. Runs in your browser.

Monthly payment

-

Payoff time-
Total interest-
Total paid-

Yearly schedule

YearPrincipalInterestBalance

Show the math

Each payment covers the month’s interest first, and the rest reduces the balance:

interest = balance × rate ÷ 12 · principal = payment − interest

Because interest is charged on the remaining balance, early payments are mostly interest and later ones mostly principal. Any extra goes straight to principal, so the balance, and the interest that follows, falls faster, shortening the loan.

What this does

An amortization schedule shows how every payment on a loan splits between interest and principal over time. Enter the loan amount, interest rate, and term, and it lays out the falling balance year by year so you can see exactly when the debt is repaid.

How to use it

  1. Enter the loan amount, interest rate, and term.
  2. Optionally add a fixed extra monthly payment.
  3. Read the year-by-year split of interest and principal.
  4. See the payoff date and total interest.

How it works

Each month, interest is charged on the outstanding balance and the rest of your fixed payment reduces principal. Because the balance is highest at the start, early payments are mostly interest; as the balance falls, more of each payment goes to principal.

Understanding your result

The schedule reveals how slowly principal drops in the early years and how extra payments accelerate it. Any extra applied to principal lowers the balance immediately, shortening the term and cutting total interest.

Example

On a $300,000 loan at 6.5% over 30 years, the first payment of about $1,896 is roughly $1,625 interest and only $271 principal. By year 20, most of each payment is principal.

Sources & methodology

Last updated .

Frequently asked questions

What is an amortization schedule?

It is a month-by-month (here summarised by year) breakdown of a loan, showing how much of each payment goes to interest versus principal and how the balance declines until the loan is paid off.

Why is so much early payment interest?

Interest is charged on the outstanding balance, which is highest at the start. Early payments are mostly interest; as the balance falls, more of each payment chips away at principal.

How do extra payments help?

Any extra applied to principal lowers the balance immediately, so less interest accrues afterward. The schedule shortens and total interest drops, often by years and thousands.

Do you store my loan details?

No. The entire schedule is built locally in your browser, nothing is uploaded or saved.