Amortization Calculator
Calculate your loan amortization schedule with monthly principal and interest breakdown over the full loan term.
Input Parameters
Results
How Amortization Works
An amortization schedule shows each monthly payment split between principal (reducing your balance) and interest (lender fee). Early payments are mostly interest; over time more goes toward principal.
What is the Amortization Calculator?
The Amortization Calculator generates a complete, month-by-month schedule of a loan. It exposes exactly how much of each payment goes toward bank interest versus how much actually pays down your principal balance.
How It Works (Algorithm)
Amortization is heavily front-loaded. For a 30-year mortgage, the first few years consist almost entirely of interest payments. The calculator loops through every single month, subtracting the interest generated by the remaining principal, and applying the leftover payment to the balance.
$$ I_n = B_{n-1} \times \frac{r}{12} $$
Interest for month $n$ is based entirely on the remaining balance.
How to Use It
Input your loan amount, interest rate, and term. Click calculate to generate the schedule. You can scroll through the table to see exactly what your remaining balance will be 5, 10, or 20 years from now.