Loan Amortization Schedule ℹ

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What is a Loan Amortization Calculator?

A Loan Amortization Calculator is a tool that helps you calculate the periodic payments of a loan based on the loan amount, interest rate, and term. It breaks down each payment into the amount applied toward the principal and the amount applied toward the interest. This allows you to track how the loan balance reduces over time and provides insight into the total interest paid over the life of the loan.

The tool also helps you understand the impact of additional payments on the loan, which can help you pay off the loan faster and reduce the total interest paid.

Loan Details

ℹ Enter the total sum you are borrowing (the principal). This is the starting amount on which interest will be calculated.
100,000
1,000,000
25,000
125,000
ℹ Enter the yearly interest rate (APR). This determines how much interest you will pay over the life of the loan.
2%
5%
7%
10%
ℹ Enter the duration of your loan in years. This is used to calculate the number of payments.
3 Years
5 Years
10 Years
25 Years
ℹ Enter any extra amount you plan to pay each month toward the principal. This will reduce your total interest paid and shorten the loan term.
200
500
1,000
ℹ Select the date of your first payment. This date is used to schedule subsequent monthly payments.
Today

Entered Loan Details

Loan Amount ℹTotal amount borrowed (principal). Interest Rate ℹAnnual percentage rate (APR). Loan Term ℹDuration in years.
Additional Payment ℹExtra monthly payment toward principal. Start Date ℹDate of first payment.

Payment Summary

Regular Payment ℹMonthly payment calculated from principal, term, and rate. Additional Payment ℹExtra payment entered by you. Total Payment ℹSum of regular and additional payments.