Skip to content
∑Summatio

Amortization Schedule Calculator

Generate a complete amortization schedule for your loan. Calculate monthly payment, term, or loan amount with a full interest and principal breakdown.

$
%
months
$

Monthly Payment

$1,159.92

Total Interest

$78,380.60

Term

240 months

Loan Amount
$200,000.00
Interest
$78,380.60
Total Cost
$278,380.60

Related Calculators

What Is the Amortization Schedule Calculator?

The amortization schedule calculator generates a complete month-by-month repayment plan for your loan. You can see at a glance how each payment splits between interest and principal, and how the remaining balance decreases over the entire term. This allows you to compare different scenarios and find the optimal financing strategy.

Three Calculation Modes

In the default mode the calculator determines the monthly payment from the loan amount, interest rate, and term. Alternatively, you can enter a desired payment and calculate the term, or determine the maximum loan amount you can afford at a given payment and term. All three modes produce the full amortization schedule.

How Amortization Works

With a fixed-rate amortizing loan you pay the same amount every month. In the beginning most of the payment covers interest, while only a small portion reduces the principal. As the balance decreases with each payment, the interest portion shrinks and the principal portion grows. By the end of the term the loan is completely paid off.

The Power of Extra Payments

Annual extra payments are one of the most effective ways to shorten your loan term and save on interest. Even moderate extra payments can reduce your total interest by thousands of dollars. Before making extra payments, check your loan agreement to ensure there are no prepayment penalties that could offset the savings.

Tips for Loan Planning

Choose a monthly payment that fits comfortably within your budget. A common guideline is to keep the payment below 35 percent of your disposable income. Compare different terms to find the right balance between monthly affordability and total cost. A shorter term means higher payments but significantly less interest overall. Use the charts to visualize exactly how your balance and interest evolve over time.

Frequently Asked Questions

An amortization schedule is a detailed table showing every payment over the life of a loan. For each period it breaks down how much goes toward interest, how much toward principal, and what the remaining balance is. This helps you understand exactly when your loan will be fully repaid.
Extra payments reduce the remaining balance faster, which means less interest accrues in future periods. This shortens the overall term and can save you a significant amount in total interest. Even small annual extra payments can cut years off your loan.
The interest portion is the fee you pay for borrowing the money. The principal portion is the amount that actually reduces your debt. With a fixed-rate loan, the total payment stays constant, but over time the interest portion decreases while the principal portion increases.
Yes. In the 'Payment' mode, the calculator determines the payment automatically. You can also enter a desired payment and calculate the term or the maximum loan amount instead. Make sure the payment is at least large enough to cover the monthly interest.
No. All calculations run entirely in your browser. No data is transmitted to or stored on any server. You can use this calculator without any privacy concerns.

All calculations are for general informational purposes only. Not financial, tax, or legal advice. No guarantee of accuracy. Use at your own risk. Full disclaimer