Calculators & Converters
Loan Amortization
Work out a monthly payment, then see every month of principal, interest and balance. An extra payment shortens the term and shows the interest it saves.
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How to read a loan schedule
- Enter the amount, the annual interest rate and the term in years and months.
- Add an extra amount if you pay more than the scheduled payment each month.
- Read the payment, the payoff time and the month-by-month schedule. Download it as CSV.
Questions
How is the payment calculated?
Interest is compounded monthly from the annual rate, and the payment is due at the end of each month. A rate of zero divides the amount evenly across the months.
Will this match a lender’s quote?
Not to the cent. Lenders round each month, and they add fees, insurance or a different day-count. This schedule is the unpaid balance without those extras.
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