Amortization Calculator — Detailed Amortization Schedule

How to Use the Amortization Calculator

This amortization calculator gives you a complete, period-by-period view of how your loan gets paid off over time. Enter your loan amount, annual interest rate, and loan term in years, and choose your country to format results in the right currency. The calculator instantly returns your monthly payment, total interest paid over the life of the loan, total cost, and a full amortization schedule you can toggle between an annual summary and a detailed monthly view.

The chart above the schedule shows your remaining loan balance declining year by year, so you can visually see how quickly (or slowly) you build equity depending on your rate and term.

What Affects Your Amortization Schedule?

• Loan amount — a larger principal means larger interest charges in every period, especially early in the loan.
• Interest rate — even a small rate increase significantly raises the interest portion of every payment and the total interest paid over the loan's life.
• Loan term — longer terms lower your monthly payment but extend the time you pay interest, increasing your total cost. Shorter terms raise monthly payments but reduce total interest dramatically.

How Amortization Works

Each period, interest is calculated on your current remaining balance, and the rest of your fixed payment goes toward reducing principal. Early in your loan, most of each payment covers interest; as the balance shrinks over time, more of each payment goes toward principal. This loan amortization calculator repeats that calculation for every period until the balance reaches zero, giving you the exact breakdown shown in the schedule above.

Tips for Reading Your Amortization Schedule

• Check how much of your very first payment goes to interest versus principal — it's often more than half in the early years of a long-term loan.
• Compare the annual view to see how your balance decreases each year and estimate your home equity at any point in time.
• Use the payment schedule calculator alongside our Extra Payment Calculator to see how additional principal payments shorten your schedule and reduce total interest.
• If you're deciding between loan terms, run the numbers for both a 15-year and 30-year schedule to compare total interest side by side.