Amortization Schedule Calculator
An amortization schedule shows how every payment splits between interest and principal and how the balance falls over time. Enter your loan details to see the first months of the schedule and the totals for the whole loan.
Amortization Schedule Calculator
How this calculator works
An amortization schedule is the month-by-month record of a fixed-rate loan. Each month the lender multiplies the outstanding balance by the monthly rate to get the interest charge, subtracts that from your payment, and applies the remainder to the principal. The balance then falls by the principal portion and the process repeats.
Because the balance is highest at the start, the interest portion is largest in the early months and the principal portion is smallest. Over time the split reverses: later payments are mostly principal. That is why extra payments early in the loan save far more interest than the same amount paid near the end.
This tool builds the schedule from the standard amortisation payment and the figures you enter. It shows the first rows plus totals for the entire loan. It assumes a fixed rate and on-time payments; a variable rate or missed payments would change the schedule.
Frequently asked questions
Why is most of my early payment interest?
Interest is charged on the remaining balance, which is highest at the start. As the balance falls, the interest charge shrinks and more of each payment goes to principal.
How can I pay less interest?
Pay extra as early as possible, make payments more often if your lender allows, or refinance to a lower rate. Any of these reduces the balance sooner and cuts future interest.
Does the final payment differ from the others?
Often by a small amount, because the loan is designed to end exactly at zero and rounding makes the last payment a few cents or dollars different. This schedule adjusts the final principal to clear the balance.
Can I see the whole schedule?
The table shows up to 120 months. For a longer loan, raise the display count or run the calculator again to inspect later periods, since the totals always cover the full term.
Does this work for a mortgage?
Yes, the maths is the same for any fixed-rate amortising loan. Enter the mortgage amount, rate and term in months to see the schedule.
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