Loan Amortization Schedule
See the full month-by-month breakdown of any loan — principal, interest and falling balance — plus the effect of extra payments.
How to use the Loan Amortization Schedule
- Enter the loan amount, annual interest rate and term in years.
- Add an optional extra monthly payment to see the loan clear sooner.
- Read your monthly payment and total interest, then open the full schedule.
About the Loan Amortization Schedule
An amortisation schedule shows exactly how a loan is paid off, one month at a time. Enter the loan amount, the annual interest rate as a percentage and the term in years, and this calculator works out the fixed monthly payment with the standard amortisation formula, then builds the full month-by-month table. Each row splits that month's payment into the part that clears interest and the part that reduces what you owe, and shows the balance left afterwards.
Early on, most of each payment is interest and little touches the balance; as the balance falls the split tilts, until near the end almost all of it is principal. The tool totals the interest you will pay and the total of all payments, and shows how many months the loan runs. An optional extra monthly payment is added straight to principal every month, which shortens the term and cuts total interest. A 0% rate is handled too, simply splitting the amount evenly across the months.
The first twelve months are shown by default, with a button to expand the whole table. Be clear on what it leaves out: it assumes a fixed rate and equal payments, and does not include property tax, insurance, PMI or any fees, so a real mortgage bill will be higher. Rounding to the cent can differ slightly from a lender's own figures. To compare a monthly payment first, try the loan calculator or the mortgage calculator.
Frequently asked questions
What is an amortisation schedule?
It is a table showing every payment over the life of a loan, breaking each one into interest and principal and tracking the balance as it falls to zero. It lets you see how much of your money goes to interest and exactly when the loan is finally paid off.
Why is so much of my early payment interest?
Interest is charged on the outstanding balance, which is largest at the start. So in the first months most of the fixed payment covers interest and only a little reduces the balance. As the balance shrinks, the interest portion falls and more of each payment clears principal.
How does an extra monthly payment help?
Any amount above the normal payment goes straight to principal, so the balance drops faster. A smaller balance is charged less interest the next month, and the effect compounds, clearing the loan earlier and reducing the total interest you pay over its life.
Does it include taxes, insurance and fees?
No. It calculates principal and interest only. Property taxes, home insurance, PMI, arrangement fees and other charges are not included, so your actual monthly bill from a lender will be somewhat higher than the payment shown here.
Why might my lender's numbers differ slightly?
Small rounding differences. This tool rounds to the nearest cent each month, and lenders may round or apply day-count and payment-date rules differently. The figures are close estimates, so expect a few pennies of variation rather than an exact match.