Standard schedule
Current loan · scheduled payments
- Payment per period
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- Total interest
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- Payoff date
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Loan payment planning tool
Loan Amortization Calculator
See how each estimated payment splits between principal and interest, track the balance month by month, and compare payoff scenarios.
Your assumptions
Loan details
Start with the figures from your offer or loan statement.
Payment breakdown
Principal vs. interest over time
Balance path
Remaining balance over time
Charts are unavailable right now. The payment summary and schedule are still available below.
Payment by payment
Amortization schedule
Expand a year to inspect each payment and follow the balance.
YearTotal paymentsPrincipalInterestEnding balance
Estimates use the inputs and assumptions selected above. Your lender’s dates, rate conventions, fees, posting rules, and rounding may differ; the final payment may be smaller than a regular installment.
More planning calculators
Choose a tool for the decision you are working through. These estimates run in your browser and use the figures you provide.
Full mortgage paymentAdd tax, insurance, PMI, and HOA estimates. Home affordabilityEstimate a home budget from income and debts. Mortgage refinanceCompare payments, costs, and break-even timing. Debt payoff plansCompare avalanche and snowball methods. Lease vs. buyCompare car costs over the same period.
How to read the schedule
Each row shows one modeled payment date, the amount paid, principal reduction, interest charged, and closing balance. The yearly rows summarize those payments; expand a year to inspect the individual entries. The charts provide a visual summary, while the CSV export is useful when you want to sort or annotate the payment data in a spreadsheet.
Worked example: the same balance over two terms
For comparison, assume a $250,000 balance, 6.5% nominal APR, monthly payments, periodic APR ÷ 12 interest, and no fees or extra principal. These are mathematical illustrations, not current rate guidance or a lender quote:
| Term | Estimated monthly P&I | Estimated total interest |
|---|---|---|
| 15 years | $2,177.77 | $141,998 |
| 30 years | $1,580.17 | $318,861 |
In this simplified comparison, the 30-year payment is about $598 lower each month, while modeled interest is about $176,863 higher across the full term. This does not tell you which payment fits your budget: it shows why comparing payment, term, total interest, and cash-flow needs together is more informative than comparing the monthly amount alone.
Compare loan offers on equal terms
Enter the amount actually financed, not just the purchase price. Compare offers using the same balance, term, and payment frequency; then enter each quoted APR, financed fee, and any planned extra payment in a scenario card. A longer term can lower the scheduled payment while increasing total interest, so review payment, interest, and payoff date together. Mortgage tax, insurance, PMI, or HOA entries are estimates displayed separately from principal and interest.
Interest assumptions and limits
Periodic mode converts the entered nominal annual rate into a rate per payment period. For a monthly schedule that is APR ÷ 12; other frequencies divide by the number of payments per year. Simple daily mode instead applies APR to the outstanding balance for the actual number of days between modeled payments using 365.25 days per year. The loan contract may use different dates, compounding, fees, or rounding. The calculator is an estimate, not a lender quote, and does not model every loan structure.
For decisions with loan-specific or program-specific rules, compare this estimate with your lender or servicer's written terms. The mortgage tool, auto loan tool, and student loan tool explain their own input assumptions.
Frequently Asked Questions
What is a loan amortization calculator? ▼
A loan amortization calculator estimates scheduled payments and separates each one into principal and interest. Enter the amount, rate, and term to see the payoff date, total interest, expandable yearly summaries, and individual monthly payments.
How do I calculate a loan amortization schedule? ▼
Enter the financed balance, annual rate, and term. The selected interest method determines each period’s interest; the schedule then applies the payment to interest and principal and carries the remaining balance forward. The final payment may be smaller than a regular payment.
What is a loan amortization table? ▼
A loan amortization schedule lists payment dates, payment amounts, principal, interest, and remaining balance. This calculator groups the schedule by year; expand a year to inspect each payment and follow the balance month to month.
How is loan amortization calculated? ▼
In periodic mode, monthly interest is the outstanding balance multiplied by APR ÷ 12. In simple daily mode, interest is based on actual elapsed days and a 365.25-day year. Payment timing and day-count conventions in your loan agreement can differ from either estimate.
What is the loan amortization formula? ▼
For a fixed periodic rate, the payment formula is M = P × [r(1+r)^n] ÷ [(1+r)^n − 1], where P is the financed balance, r is the rate per payment period, and n is the number of periods. The formula assumes equal periods and no extra payments or later rate changes; daily-interest schedules use date-specific accrual instead.
How can I create a loan amortization schedule in Excel? ▼
For a monthly periodic-rate estimate, Excel’s PMT function can calculate the scheduled payment; columns for date, opening balance, interest, principal, payment, and closing balance can then show each period. Check that the spreadsheet uses the same rate conversion, dates, rounding, and fees as your loan documents.
What is the difference between loan amortization and loan repayment? ▼
Loan amortization specifically refers to paying off debt through scheduled, equal payments where the principal/interest split shifts over time — interest dominates early, principal dominates later. Loan repayment is the broader concept of returning borrowed money, which may include interest-only periods, balloon payments, or variable payment structures. A fully amortizing loan has equal payments and a zero balance at the end of the term.
How does a personal loan amortization calculator work? ▼
You can model a personal loan by entering the financed amount, APR, and term, then compare offers using payment, total interest, and payoff date. Origination fees, variable rates, and lender-specific payment rules may change the amount you actually pay.
Can I make extra payments to pay off my loan faster? ▼
An extra amount may reduce modeled interest if it is applied to principal. The actual effect depends on timing, fees, and the lender’s allocation rules. Use the extra-payment comparison and confirm with your servicer how the amount will be applied.
What happens to my amortization schedule if I make extra payments? ▼
The remaining balance is lower after the extra principal is applied, so later interest is recalculated on that lower balance. The schedule compares the modeled result with standard payments; your lender may calculate dates or amounts differently.