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Input the loan amount, annual interest rate, loan term, and start date. Optionally add an extra monthly payment amount to see how it accelerates payoff.
Free tool
Loan Amortization Calculator
A loan amortization calculator generates a complete payment schedule showing how each monthly payment splits between principal and interest. Enter your loan amount, interest rate, term, and optional extra payments to see your full amortization table and total interest cost.
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Calculator inputs
Enter your loan details
Sample values are loaded so you can test the calculator immediately. Replace them with your actual loan details.
Monthly payment
$1,580.17
360 payments
Payment breakdown chart
Principal vs interest over time
Early in the loan, most of your payment goes to interest. Over time the principal portion grows as the balance shrinks.
Principal
Interest
Amortization schedule
Month-by-month payment breakdown
| # | Date | Payment | Principal | Interest | Balance | Total Interest |
|---|---|---|---|---|---|---|
| 1 | Mar 2026 | $1,580.17 | $226.00 | $1,354.17 | $249,774.00 | $1,354.17 |
| 2 | Apr 2026 | $1,580.17 | $227.23 | $1,352.94 | $249,546.77 | $2,707.11 |
| 3 | May 2026 | $1,580.17 | $228.46 | $1,351.71 | $249,318.31 | $4,058.82 |
| 4 | Jun 2026 | $1,580.17 | $229.70 | $1,350.47 | $249,088.61 | $5,409.29 |
| 5 | Jul 2026 | $1,580.17 | $230.94 | $1,349.23 | $248,857.67 | $6,758.52 |
| 6 | Aug 2026 | $1,580.17 | $232.19 | $1,347.98 | $248,625.48 | $8,106.50 |
| 7 | Sep 2026 | $1,580.17 | $233.45 | $1,346.72 | $248,392.03 | $9,453.22 |
| 8 | Oct 2026 | $1,580.17 | $234.71 | $1,345.46 | $248,157.32 | $10,798.68 |
| 9 | Nov 2026 | $1,580.17 | $235.98 | $1,344.19 | $247,921.34 | $12,142.87 |
| 10 | Dec 2026 | $1,580.17 | $237.26 | $1,342.91 | $247,684.08 | $13,485.78 |
| 11 | Jan 2027 | $1,580.17 | $238.55 | $1,341.62 | $247,445.53 | $14,827.40 |
| 12 | Feb 2027 | $1,580.17 | $239.84 | $1,340.33 | $247,205.69 | $16,167.73 |
How to use this calculator
Generate your amortization schedule in three steps
This free loan amortization calculator works for mortgages, auto loans, personal loans, and any fixed-rate loan.
Review the payment breakdown
See your monthly payment, total interest, total cost, and interest savings from extra payments at a glance. The chart shows how principal and interest shift over time.
Export the amortization schedule
Browse the full month-by-month amortization table showing payment date, principal, interest, extra payment, and remaining balance. Download as CSV to share or plan your budget.
FAQ
Common loan amortization questions
Answers to the most common questions about amortization schedules, extra payments, and interest calculations.
What is a loan amortization schedule?
A loan amortization schedule is a table that shows every payment over the life of a loan, broken down into principal and interest portions. Early payments are mostly interest, while later payments are mostly principal. This schedule helps you understand exactly where your money goes each month and how much total interest you will pay.
How do extra payments affect loan amortization?
Extra payments go directly toward reducing your principal balance. This means less interest accrues in future months, which shortens your loan term and reduces total interest paid. Even small extra payments, like $50 or $100 per month, can save thousands of dollars and cut months or years off your loan.
What is the difference between principal and interest in a loan payment?
Principal is the portion of your payment that reduces your loan balance. Interest is the cost charged by the lender for borrowing the money. In a standard amortizing loan, early payments are mostly interest, but over time the principal portion grows as the remaining balance shrinks.
How is the monthly payment on an amortizing loan calculated?
The monthly payment is calculated using the standard amortization formula: M = P * [r(1+r)^n] / [(1+r)^n - 1], where P is the principal (loan amount), r is the monthly interest rate (annual rate divided by 12), and n is the total number of monthly payments. This produces a fixed monthly payment that covers both principal and interest over the full loan term.
Can I use this calculator for mortgages, auto loans, and personal loans?
Yes. This loan amortization calculator works for any fixed-rate amortizing loan including mortgages, auto loans, personal loans, and student loans. It assumes a fixed interest rate and equal monthly payments. Variable-rate loans or loans with fees may have different actual costs.
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