Amortization Schedule Calculator

An amortization schedule is a complete table of every payment over the life of a loan, showing how much of each payment goes to interest versus principal and the remaining balance after each payment. It reveals exactly how your debt is paid down over time.

Interest is charged on your remaining balance, which is highest at the start. So early payments are mostly interest with only a little principal. As the balance shrinks, the interest portion drops and more of each fixed payment chips away at principal — the curve accelerates near the end.

Each month's interest equals your current balance times the monthly interest rate (annual rate divided by 12). The rest of your fixed payment reduces the principal. The new, lower balance is then used for the next month's interest.

Any extra amount goes straight to principal, which lowers the balance faster and reduces all the future interest charged on that balance. Even small consistent extra payments can shave years off the loan and save thousands in interest — try adding one above.

Yes. Any fixed-rate, fully amortizing loan — mortgage, auto, personal, or student loan — follows the same math. Enter the loan amount, rate, and term to generate its schedule.