Amortization schedule calculator

Enter the loan, rate and term to get the payment and a year-by-year schedule. Add an extra monthly amount to see how much faster it's gone.

Applied straight to principal.

  1. Loan amount$320,000.00
  2. Monthly payment (6.5%, 30 yr)$2,022.62
  3. Total interest$408,140.64
  4. Total paid$728,140.64
  5. Year 1: interest $20,694.68, principal $3,576.76Balance at year end$316,423.24
  6. Year 2: interest $20,455.16, principal $3,816.28Balance at year end$312,606.96
  7. Year 3: interest $20,199.56, principal $4,071.88Balance at year end$308,535.08
  8. Year 4: interest $19,926.87, principal $4,344.57Balance at year end$304,190.51
  9. Year 5: interest $19,635.90, principal $4,635.54Balance at year end$299,554.97
  10. Year 6: interest $19,325.44, principal $4,946.00Balance at year end$294,608.97
  11. Year 7: interest $18,994.22, principal $5,277.22Balance at year end$289,331.75
  12. Year 8: interest $18,640.79, principal $5,630.65Balance at year end$283,701.10
  13. Year 9: interest $18,263.69, principal $6,007.75Balance at year end$277,693.35
  14. Year 10: interest $17,861.33, principal $6,410.11Balance at year end$271,283.24
  15. Year 11: interest $17,432.03, principal $6,839.41Balance at year end$264,443.83
  16. Year 12: interest $16,973.98, principal $7,297.46Balance at year end$257,146.37
  17. Year 13: interest $16,485.27, principal $7,786.17Balance at year end$249,360.20
  18. Year 14: interest $15,963.82, principal $8,307.62Balance at year end$241,052.58
  19. Year 15: interest $15,407.42, principal $8,864.02Balance at year end$232,188.56
  20. Year 16: interest $14,813.81, principal $9,457.63Balance at year end$222,730.93
  21. Year 17: interest $14,180.39, principal $10,091.05Balance at year end$212,639.88
  22. Year 18: interest $13,504.58, principal $10,766.86Balance at year end$201,873.02
  23. Year 19: interest $12,783.51, principal $11,487.93Balance at year end$190,385.09
  24. Year 20: interest $12,014.14, principal $12,257.30Balance at year end$178,127.79
  25. Year 21: interest $11,193.24, principal $13,078.20Balance at year end$165,049.59
  26. Year 22: interest $10,317.38, principal $13,954.06Balance at year end$151,095.53
  27. Year 23: interest $9,382.83, principal $14,888.61Balance at year end$136,206.92
  28. Year 24: interest $8,385.73, principal $15,885.71Balance at year end$120,321.21
  29. Year 25: interest $7,321.84, principal $16,949.60Balance at year end$103,371.61
  30. Year 26: interest $6,186.68, principal $18,084.76Balance at year end$85,286.85
  31. Year 27: interest $4,975.52, principal $19,295.92Balance at year end$65,990.93
  32. Year 28: interest $3,683.22, principal $20,588.22Balance at year end$45,402.71
  33. Year 29: interest $2,304.40, principal $21,967.04Balance at year end$23,435.67
  34. Year 30: interest $833.21, principal $23,435.67Balance at year end$0.00
Monthly payment $2,022.62

Estimates only. Servicers may round differently or apply extra payments on different dates. Not financial advice.

Last updated 13 Sep 2026.

How to use it

  1. Enter the amount borrowed, the rate and the term in years.
  2. Read the monthly payment and the yearly rows: interest paid, principal paid and the balance left at the end of each year.
  3. Add an extra monthly payment to see the new payoff time and the interest it saves.

Worked example

$320,000 at 6.5% over 30 years. The payment is $2,022.62.

Month one: interest is $320,000 × 0.5417% = $1,733.33, so only $289.29 goes to principal. After year one the balance is $316,423.24; after year 15 it’s $232,188.56. Total interest over the loan is $408,140.64.

Adding $200 a month pays it off in 23 years 5 months and saves $105,427.85 in interest.

How it's calculated

monthly payment = loan × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), with r the monthly rate and n the number of payments

Each month: interest = balance × r, rounded to the cent; principal = payment + extra − interest; balance = balance − principal

The schedule is built month by month with cent rounding, the way a servicer books it, and the yearly rows add those months up. The final payment is trimmed to whatever is still owed, so the totals are exact rather than payment × months.

FAQ

Why does so little go to principal at first?

Interest is charged on the whole balance each month, and the balance is largest at the start. As it falls, the same payment covers less interest and more principal. On a 30-year loan the split doesn't reach half and half until around year 19.

Do extra payments really help?

Every extra dollar goes to principal, so it stops earning interest for the lender immediately. On the example above, $200 a month saves about $105,000 and more than six years. Check that your lender applies extras to principal rather than to next month's payment.

Why is total interest slightly different from payment × months − loan?

Because the schedule rounds interest to the cent each month, and the last payment is smaller than the rest. The difference is usually under a dollar. This calculator reports the exact schedule total.

Can I use this for a car loan or personal loan?

Yes. Any fixed-rate, level-payment loan amortizes the same way. Enter the term in years; for a 48-month car loan that's 4.