Amortization Calculator
A detailed month-by-month payment, interest and balance schedule for any loan.
How to use this tool
- Enter loan amount, rate and term.
- Add optional extra monthly payment.
- Calculate the full schedule.
- Scroll the table or export CSV.
How it works
Each month: interest = balance × monthly rate; principal = payment − interest; balance decreases accordingly. Extra payments reduce principal directly.
Tips
- Compare the 'interest saved' column when testing extra payments.
- Biemonthly payments effectively make one extra payment a year.
- Export the schedule before refinancing.
Limitations
Fixed-rate amortization assumed; adjustable-rate loans need rate segments.
Frequently asked questions
Why is early interest so high?
Interest is charged on the remaining balance, which is biggest at the start. As principal falls, the interest share of each payment drops.
Can I add extra payments?
Yes — set an extra monthly amount and see the term shorten and interest saved.
Can I export the schedule?
Download the full schedule as CSV for your spreadsheet.