Amortization Calculator – Create a Loan Payment Schedule
Generate a full payment schedule showing how each payment splits between principal and interest.
About the Amortization Calculator
What is the Amortization Calculator?
An amortization calculator produces the complete payment schedule for a fixed-rate loan. Each row shows the payment, how it splits into principal and interest, and the balance that remains.
Why use this calculator?
An amortization table turns an abstract loan into a concrete plan. You can see exactly when interest stops dominating, how much you still owe at any point, and how extra payments ripple through the schedule.
How to use it
- Enter the loan amount, rate and term.
- Add an optional extra monthly payment to see its effect.
- Choose whether to view the schedule by year or by month.
- Read the totals, then scroll the table for the full breakdown.
Formula
Each period: interest = balance × (rate ÷ 12); principal = payment − interest; balance = balance − principal.
For variable-rate loans the schedule will change whenever the rate resets.
Frequently Asked Questions
What is negative amortization?
It happens when a payment is smaller than the interest due, so the unpaid interest is added to the balance and the loan grows. Standard amortizing loans never do this.
Can I export the schedule?
You can copy the table or print the page from your browser. The layout is designed to print cleanly if you need a paper record.
What is the difference between principal and interest?
The principal is the amount you borrow. Interest is the fee charged for borrowing it, shown either as an annual rate (APR) or a periodic rate. Early payments go mostly toward interest; later payments go mostly toward principal.
How does the loan term affect my payment?
A longer term lowers the monthly payment but increases the total interest you pay over the life of the loan. A shorter term raises the monthly payment but costs less overall.
What is an amortization schedule?
It is a table that breaks every payment into its principal and interest portions and shows the remaining balance after each payment.
Should I make extra payments?
Extra payments reduce principal directly, which shortens the loan and cuts total interest. Many loans have no prepayment penalty, but check your agreement first.
What is APR and how is it different from the interest rate?
The interest rate applies only to the balance. The APR (annual percentage rate) also includes fees and points, so it reflects the true yearly cost of the loan.
Is this calculator free to use?
Yes. Every calculator on this site is completely free, with no hidden fees, no subscriptions and no limits on how many times you can use it.
How accurate are the results?
We use standard, widely accepted formulas and calculate in your browser using double-precision arithmetic. Results are rounded for readability, so treat them as reliable estimates rather than a guarantee. Real-world factors can vary the true figure.
Can I add this calculator to my own website?
Yes. Open this calculator page and use the "Add to your website" box in the sidebar to copy a ready-made iframe snippet, then paste it into any HTML page.