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Amortization Schedule Calculator

Enter a loan amount, interest rate, and term to generate the full payment-by-payment schedule — switch between a yearly summary and the complete monthly breakdown.

Monthly payment$1,896.20
Total interest$382,633.47
Total repayment$682,633.47

Amortization schedule

YearPrincipalInterestBalance
1$3,353$19,401$296,647
2$3,578$19,177$293,069
3$3,817$18,937$289,252
4$4,073$18,681$285,179
5$4,346$18,409$280,833
6$4,637$18,118$276,196
7$4,947$17,807$271,249
8$5,279$17,476$265,970
9$5,632$17,122$260,338
10$6,009$16,745$254,328
11$6,412$16,343$247,916
12$6,841$15,913$241,075
13$7,299$15,455$233,776
14$7,788$14,966$225,987
15$8,310$14,445$217,677
16$8,866$13,888$208,811
17$9,460$13,294$199,351
18$10,094$12,661$189,257
19$10,770$11,985$178,487
20$11,491$11,263$166,996
21$12,261$10,494$154,735
22$13,082$9,673$141,653
23$13,958$8,797$127,695
24$14,893$7,862$112,803
25$15,890$6,864$96,912
26$16,954$5,800$79,958
27$18,090$4,665$61,868
28$19,301$3,453$42,567
29$20,594$2,161$21,973
30$21,973$781$0

How each payment is split

Every payment starts with an interest charge on the current balance (balance × monthly rate); whatever is left of the fixed payment after that goes toward principal, which then reduces the balance for the next payment's interest calculation. Repeating this for every period produces the full schedule.

Worked example

Suppose you have a $300,000 loan at 6.5% annual interest over 30 years:

  • Monthly payment: $1,896.20
  • Total repaid over 30 years: $682,633.47
  • Total interest: $382,633.47

Try these exact numbers above and switch to the monthly view to see individual payments.

Frequently asked questions

What is an amortization schedule?+

It's a complete table showing, for every payment over a loan's life, how much goes toward principal, how much goes toward interest, and what balance remains afterward. It's the detailed version of what a mortgage or loan calculator summarizes into a few headline numbers.

Why would I need the monthly view instead of yearly?+

The monthly view is useful for record-keeping, tax purposes (some interest may be deductible depending on the loan type and your jurisdiction), or verifying a specific payment against your lender's statement. The yearly view is easier for getting a quick sense of the overall payoff trajectory.

Why does the principal portion increase every payment?+

Interest is charged on the remaining balance, which shrinks with every payment. Since the total payment stays fixed, whatever isn't consumed by interest goes to principal — so as interest's share shrinks, principal's share grows, payment after payment.

Does this apply to any type of loan?+

It models any fixed-rate, fixed-term, level-payment loan — mortgages, auto loans, personal loans, and similar. It doesn't model adjustable rates, interest-only periods, or balloon payments.

Not financial advice. This calculator is provided for general educational and informational purposes only and does not constitute financial, investment, tax, or legal advice. Results are estimates based on the assumptions you enter and may not reflect actual returns, fees, or taxes. Consult a qualified financial professional before making decisions based on this information.