Free amortization schedule calculator. See the exact principal, interest, and remaining balance for every payment on any loan, mortgage, or fixed-term debt.
An amortization schedule breaks a loan down payment by payment, showing exactly how much of each payment goes toward interest versus principal, and what balance remains after each one. Enter a loan amount, interest rate, and term to see the complete month-by-month table.
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Amortization Schedule Calculator
A loan's monthly payment is one number, but it hides a changing story underneath: how much of that fixed payment goes toward interest versus paying down the actual balance shifts every single month. An amortization schedule makes that story visible, listing every payment from the first to the last, with the interest, principal, and remaining balance broken out for each one.
This calculator generates that full schedule for any loan amount, rate, and term — useful whether you're evaluating a specific mortgage or loan offer, or just want to understand how a fixed-rate installment loan actually pays down over time.
Front-Loaded Interest
With standard equal (annuity) payments, interest is calculated fresh each period on whatever balance remains — and early in the loan, that balance is close to the full original amount, so the interest portion of each payment is at its largest. On a 30-year mortgage, it's common for the majority of the payment in year one to go toward interest rather than principal.
As payments continue and the balance shrinks, the interest charge shrinks with it, so a growing share of each fixed payment goes toward principal instead. By the final years of the loan, nearly the entire payment reduces the balance. This is a mathematical consequence of how interest accrues on the remaining balance, not something specific to any one lender.
Equal vs. Decreasing Payments
Equal payment (annuity) amortization — the most common structure for mortgages and consumer loans — keeps the total payment identical every period, with the interest/principal mix shifting behind the scenes as described above. Decreasing payment amortization instead keeps the principal portion fixed every period, letting the total payment start higher and decline over time as the shrinking balance produces a smaller interest charge.
Decreasing payments result in slightly less total interest paid over the life of the loan (since the balance is paid down faster in the earlier periods), but require a higher payment capacity at the start. This calculator can generate either schedule so you can compare both structures for the same loan terms.
Limitations
This calculator produces a pure principal-and-interest amortization schedule based on a fixed rate for the entire term — it doesn't account for variable or adjustable rates that change partway through the loan, extra or lump-sum payments applied ahead of schedule, or additional costs like property taxes, insurance, or origination fees that might be bundled into a real-world mortgage payment.
For a mortgage-specific calculation that includes those additional costs, see our mortgage calculator. For paying off a loan faster with extra payments, see our loan calculator.
Practical Use Cases
Verifying a lender's loan documents
Cross-checking the payment breakdown a lender provided against an independent calculation.
Understanding your loan's payoff timeline
Seeing exactly when your balance crosses meaningful milestones like 50% paid off.
Tax and accounting purposes
Separating the interest and principal portions of payments for tax deduction or bookkeeping records.
Comparing loan structures
Seeing the payment and interest differences between equal and decreasing payment structures for the same loan.
Planning a refinance
Checking your current remaining balance at a specific future date before deciding whether refinancing makes sense.
An amortization schedule is a complete table listing every payment over the life of a loan, showing how each payment splits between interest and principal, and the loan balance remaining after that payment. It's the detailed breakdown behind a loan's single monthly payment figure.
Interest is calculated on the remaining balance each period, and that balance is highest at the start of the loan. With equal (annuity) payments, the fixed payment amount covers a larger interest charge early on, leaving less for principal — as the balance shrinks over time, less of each payment is needed for interest, so more goes toward principal instead.
Equal payments (the standard "amortized" or "annuity" structure) keep the total payment the same every period, with the interest/principal split shifting over time. Decreasing payments keep the principal portion fixed each period, so the total payment amount is highest at the start and decreases as the balance — and therefore the interest charge — shrinks.
Compare the remaining balance at a given month under your normal schedule against a scenario with a lump-sum or recurring extra payment — the schedule shows you exactly how much faster the balance declines and how much total interest you avoid by paying down principal ahead of schedule.
Most fixed-term installment loans — mortgages, auto loans, personal loans, and standard student loans — use amortization schedules. Revolving credit like credit cards doesn't follow a fixed schedule, since the balance, payments, and time to payoff vary based on ongoing spending and payment behavior.