Financial Tools
Amortization Calculator
View a detailed schedule of loan repayments over time. See how each year splits between principal and interest and how the balance falls.
Loan Amount
Interest Rate (% per year)
Loan Term
Extra Monthly Payment (optional, $)
Values shown are examples. Edit them to match your situation.
Amortization Summary
| Monthly Payment | $0 |
| Total Interest | $0 |
| Total of All Payments | $0 |
| Loan Term | n/a |
| Payoff Date | n/a |
First 12 Months
| Month | Principal | Interest | Balance |
|---|
Yearly Schedule
| Year | Principal | Interest | Balance |
|---|
For illustration only, not financial advice. Results are estimates based on the numbers you enter and do not constitute an offer, rate quote or approval.
Questions people ask
How is the monthly payment calculated?
It is the standard fixed payment that clears the loan amount over the term at your annual rate divided by twelve. Each month the interest is charged on the balance left, and the rest of the payment reduces principal.
Why is so much of the early payment interest?
Interest is charged on the balance still owed, and the balance is largest at the start. As principal falls, the interest part of each payment shrinks and more of the same payment goes to principal, which you can see in the First 12 Months and Yearly Schedule tables.
How does the Extra Monthly Payment field change the schedule?
The page adds that amount to every scheduled payment and applies it to principal. The totals, payoff date and both tables then describe the plan with the extra payment, so a larger extra amount shortens the loan and cuts total interest.
Does the schedule include taxes, insurance or fees?
No. The only inputs are the loan amount, interest rate, term and extra payment, so the schedule shows principal and interest alone.
