Amortization Calculator
Enter the loan details and we list every monthly payment, split between principal and interest, with the remaining balance each month.
This calculator gives estimates for information only. It is not financial, tax or legal advice. Real results depend on lender terms, fees and local rules.
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The formula
Each month: interest = balance x monthly rate. Principal = payment - interest. New balance = balance - principal.
What amortization means
Amortization is the way a loan is paid off over time in equal instalments. The payment stays the same, but the mix changes: interest is a large share at the start and shrinks as the balance falls.
Reading the schedule
The table below the result lists each month. Watch the principal column grow and the interest column shrink. The point where the principal part overtakes the interest part comes later in long loans, which is why early extra payments are so powerful.
Example: 200,000 over 30 years at 6 percent
The payment is 1,199.10. In month one, 1,000 is interest and only 199.10 reduces the balance. By year 20, more than half of each payment is principal. Adding 200 a month brings the payoff from 30 years to about 21 years and saves close to 80,000 in interest.
Examples to check
Type these into the calculator above to see how it behaves. Every result below was produced by the same calculator code that runs on this page.
| What you enter | What you get |
|---|---|
| Loan amount ($): 200000; Interest rate (% a year): 6; Loan term (years): 30 | Monthly payment (principal and interest): $1,199.10 |
| Loan amount ($): 150000; Interest rate (% a year): 5; Loan term (years): 15 | Monthly payment (principal and interest): $1,186.19 |
Amortization Calculator: frequently asked questions
What is the difference between interest rate and APR?
The interest rate is the cost of borrowing the money. APR also includes lender fees and some other charges, so it is a better way to compare offers. This calculator uses the interest rate you enter, so add fees separately if there are any.
Does paying extra each month really help?
Yes, a lot. Extra payments go straight to the principal, so you pay less interest on every later month. Try the extra payment box to see how many months and how much interest you save.
Is this financial advice?
No. It gives an estimate from the numbers you enter. Real offers depend on fees, tax and the lender or provider, so check the terms before you commit.
Is what I enter in this calculator saved or sent anywhere?
No. The calculation runs in your browser, so what you enter is not sent to our servers. We only count, anonymously, whether a tool ran successfully.
Is this calculator free to use?
Yes. It is free, needs no sign-up and has no usage limit.
Last reviewed: October 3, 2026