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Amortization Calculator
Generate a full amortization schedule for a fixed-rate loan using loan amount, interest rate, term, and optional extra monthly payments. Includes monthly breakdowns, yearly summaries, payoff savings, and total interest.
Amortization Calculator
Use this free amortization calculator to build a full repayment schedule, track how each payment is split between principal and interest, and estimate how extra monthly payments can shorten payoff. It works well for mortgages, auto loans, and other fixed-rate installment loans. Pair it with the Payment Calculator for a quicker affordability view, compare it with the Mortgage Calculator for housing-specific costs, or explore more tools in Financial Calculators.
Set up the schedule
Enter the loan size, annual rate, term, and start date to generate the full amortization timeline. Add an extra monthly payment if you want to see the payoff accelerate.
Loan inputs
Core repayment variables
Schedule options
Timeline and acceleration
Amortization is most useful when you compare the base schedule with a slightly faster payoff plan. Even a modest extra payment can reduce long-run interest more than many people expect.
Scheduled payment
$2,119.48
Monthly payment including any extra principal. Base payment: $1,969.48.
Loan amount
$325,000.00
Loan term
360 months
Total interest
$306,919.74
Total repayment
$631,919.74
Payoff readout
Strong payoff improvement
The extra-payment structure creates a meaningful payoff improvement and materially reduces the long-run interest burden.
Payoff time
299 months
Months saved
62
Interest saved
$77,096.34
Annual rate
6.10%
Yearly summary
Year 1 ending balance
$319,231.74
Final year ending balance
$0.00
Year 1 interest
$19,665.50
Year 1 principal
$5,768.26
Use the yearly trend to see how slowly principal moves at the start of a long loan. If the early years feel too interest-heavy, compare the result with the Payment Calculator and test a more aggressive monthly payment target.
What is an amortization calculator?
An amortization calculator is a loan schedule tool that maps every payment across the life of a fixed-rate loan. Instead of showing only the payment amount, it shows exactly how much of each payment goes to interest, how much goes to principal, and how the remaining balance changes after every period.
How this calculator works
The calculator starts with the loan amount, annual rate, and loan term to compute the required monthly payment using standard amortization math. It then simulates each month in sequence, recalculating interest from the current balance and applying the rest of the payment toward principal. If you add an extra monthly payment, it repeats the same process with faster balance reduction and compares the payoff results.
Worked amortization example
Suppose you borrow $325,000.00 at 6.10% for 30.00 years starting in January 2026. The base monthly payment is $1,969.48. With the current extra-payment setting, the schedule pays off in 299 months instead of the original 360, and saves about $77,096.34 in total interest.
Amortization schedule
Review the month-by-month repayment table to see where interest is concentrated and how quickly the balance declines over time.
| # | Month | Payment | Principal | Interest | Extra | Balance |
|---|---|---|---|---|---|---|
| 1 | January 2026 | $2,119.48 | $467.40 | $1,652.08 | $150.00 | $324,532.60 |
| 2 | February 2026 | $2,119.48 | $469.77 | $1,649.71 | $150.00 | $324,062.83 |
| 3 | March 2026 | $2,119.48 | $472.16 | $1,647.32 | $150.00 | $323,590.67 |
| 4 | April 2026 | $2,119.48 | $474.56 | $1,644.92 | $150.00 | $323,116.11 |
| 5 | May 2026 | $2,119.48 | $476.97 | $1,642.51 | $150.00 | $322,639.14 |
| 6 | June 2026 | $2,119.48 | $479.40 | $1,640.08 | $150.00 | $322,159.74 |
| 7 | July 2026 | $2,119.48 | $481.83 | $1,637.65 | $150.00 | $321,677.91 |
| 8 | August 2026 | $2,119.48 | $484.28 | $1,635.20 | $150.00 | $321,193.63 |
| 9 | September 2026 | $2,119.48 | $486.75 | $1,632.73 | $150.00 | $320,706.88 |
| 10 | October 2026 | $2,119.48 | $489.22 | $1,630.26 | $150.00 | $320,217.66 |
| 11 | November 2026 | $2,119.48 | $491.71 | $1,627.77 | $150.00 | $319,725.95 |
| 12 | December 2026 | $2,119.48 | $494.21 | $1,625.27 | $150.00 | $319,231.74 |
Year-by-year balance summary
| Year | Principal paid | Interest paid | Ending balance |
|---|---|---|---|
| Year 1 | $5,768.26 | $19,665.50 | $319,231.74 |
| Year 2 | $6,130.12 | $19,303.64 | $313,101.62 |
| Year 3 | $6,514.70 | $18,919.06 | $306,586.92 |
| Year 4 | $6,923.42 | $18,510.34 | $299,663.50 |
| Year 5 | $7,357.75 | $18,076.01 | $292,305.75 |
| Year 6 | $7,819.31 | $17,614.45 | $284,486.44 |
| Year 7 | $8,309.86 | $17,123.90 | $276,176.58 |
| Year 8 | $8,831.19 | $16,602.57 | $267,345.39 |
| Year 9 | $9,385.21 | $16,048.55 | $257,960.18 |
| Year 10 | $9,973.98 | $15,459.78 | $247,986.20 |
| Year 11 | $10,599.71 | $14,834.05 | $237,386.49 |
| Year 12 | $11,264.67 | $14,169.09 | $226,121.82 |
| Year 13 | $11,971.35 | $13,462.41 | $214,150.47 |
| Year 14 | $12,722.37 | $12,711.39 | $201,428.10 |
| Year 15 | $13,520.51 | $11,913.25 | $187,907.59 |
| Year 16 | $14,368.72 | $11,065.04 | $173,538.87 |
| Year 17 | $15,270.14 | $10,163.62 | $158,268.73 |
| Year 18 | $16,228.09 | $9,205.67 | $142,040.64 |
| Year 19 | $17,246.15 | $8,187.61 | $124,794.49 |
| Year 20 | $18,328.10 | $7,105.66 | $106,466.39 |
| Year 21 | $19,477.91 | $5,955.85 | $86,988.48 |
| Year 22 | $20,699.83 | $4,733.93 | $66,288.65 |
| Year 23 | $21,998.41 | $3,435.35 | $44,290.24 |
| Year 24 | $23,378.51 | $2,055.25 | $20,911.73 |
| Year 25 | $20,911.73 | $597.77 | $0.00 |
How to use this amortization result well
Watch early-year interest
The first years of a long loan often feel slow because a large share of each payment is still servicing interest.
Test small extra payments
A manageable recurring extra amount often matters more than occasional large lump sums because it consistently reduces the balance.
Compare alternative terms
If the schedule feels too interest-heavy, try a shorter term and compare the payment increase against the total interest reduction.
Use the timeline for planning
The month labels help you see when major balance milestones happen, which is useful for refinance or payoff planning.
If you are trying to decide whether a faster payoff is realistic, compare the higher payment against your broader cash flow in the Budget Planner Calculator. If you want to reverse a long-term target into today’s dollars, the Present Value Calculator can help frame the opportunity cost of carrying debt longer.
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Frequently asked questions
An amortization calculator shows how each loan payment is split between interest and principal over time. It also shows the remaining balance after each payment, total interest paid, and how extra payments can shorten the payoff timeline.
Explore This Tool in Context
Amortization Calculator is part of the Financial Calculators collection. If you want a broader view of similar workflows, open the Financial Calculators category page or browse all QuickTools categories.
Common next steps after this tool include Estate Tax Calculator, Social Security Calculator and Annuity Payout Calculator.
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