Amortization Schedule Calculator
Enter the loan amount, interest rate, and term for any installment loan — auto, personal, student, or otherwise — to see the complete month-by-month breakdown of principal and interest until it's paid off. Add an optional extra monthly payment to see how much sooner the balance reaches zero.
Summary
| Monthly payment | — |
|---|---|
| Total interest paid | — |
| Total paid | — |
| Months to payoff | — |
Full amortization schedule
Every payment from month 1 to payoff, in order. Scroll within the table to see the whole thing.
| Month | Payment | Principal | Interest | Balance |
|---|
How this calculator works
An amortization schedule is the row-by-row record of how a fixed-payment loan gets paid off. Every payment is split into two parts: interest, which is a percentage of whatever balance you still owe, and principal, which is the part that actually reduces that balance. This calculator computes the fixed payment required to retire the loan by the end of its term, then walks the loan forward one month at a time, recalculating the interest/principal split at each step from the remaining balance.
The key thing to notice reading the table: the split shifts over the life of the loan even though the payment itself stays flat. In month one, the balance is at its highest, so the largest share of that payment goes to interest, and the principal portion is at its smallest. As the balance shrinks month after month, less of each payment is needed to cover interest, so more of it goes toward principal — the last several payments are almost entirely principal. This is true of any installment loan with a fixed rate and fixed term, whether it's financing a car, consolidating debt, or paying off a student loan, not just a mortgage.
An extra monthly payment doesn't change what you owe each month — it's applied directly on top, straight to principal, which shrinks the balance faster than the schedule assumes and shortens the table below it. That's why the total interest and payoff time shown above will both drop if you add one, sometimes substantially even for a modest extra amount.