Generate a full loan amortization schedule with principal and interest breakdown.
Every loan payment you make is split between two buckets: interest and principal. In the early months, most of your payment goes to interest; by the end, nearly all of it reduces your balance. This gradual shift is called amortization — and understanding it can save you thousands of dollars.
Our Amortization Calculator generates a complete, month-by-month schedule so you can see exactly how your balance decreases over time, how much total interest you'll pay, and how extra payments could dramatically shorten your loan term. It works for mortgages, auto loans, personal loans, and student loans.
Enter your loan amount, annual interest rate, and loan term in months or years. The calculator applies the standard amortization formula to compute your fixed monthly payment, then iterates through each payment period to build a full schedule showing opening balance, interest charge, principal reduction, and closing balance.
You take out a $20,000 personal loan at 8% annual interest for 3 years (36 months).
Monthly payment: $626.73
Total paid over 3 years: $22,562.28
Total interest paid: $2,562.28
Month 1 breakdown:
Interest: $133.33 | Principal: $493.40 | Balance: $19,506.60
Month 36 breakdown:
Interest: $4.14 | Principal: $622.59 | Balance: $0.00
You can see how the interest portion shrinks from $133 to $4 as your balance falls. Making just one extra payment of $626 in month 1 would cut the total interest by about $150 and shorten the loan by a full month.