Amortization Schedule Calculator
Full loan amortization schedule: monthly payment, every payment's interest and principal with dates, payoff date, the month principal overtakes interest, extra-payment effect and a CSV download — any currency.
| Total interest | — |
|---|---|
| Total paid | — |
| Payoff date | — |
| Interest vs principal in payment #1 | — |
| Month when principal overtakes interest | — |
| Half the balance paid off at | — |
| With the extra payment | — |
In short
An amortization schedule lists every payment on a loan with its interest, principal and remaining balance. Interest = balance × monthly rate; the rest of the level payment reduces principal, so early payments are mostly interest. On 250,000 at 6% over 30 years the payment is 1,498.88, principal first exceeds interest at payment 223, and 200 a month extra ends the loan 93 months early, saving about 86,000.
Who this is for: Borrowers who want every payment of a mortgage, car or personal loan laid out with dates, and a CSV for their records.
How an amortising loan works
- Each payment is the same, but its split changes: interest = balance × monthly rate, and whatever is left reduces the principal. Early on most of the payment is interest; the crossover month is where principal first exceeds interest.
- On a 30-year loan at 6% you have repaid only half the balance after about 20 years — the "half paid" line shows why early extra payments matter so much.
- Extra principal shortens the term rather than lowering the payment; the schedule shows the new payoff date and the interest avoided.
- The CSV has every payment with date, interest, principal, balance and cumulative interest — useful for tax records (deductible interest) and for checking a lender's statement.
- Works for mortgages, car loans, personal loans and business loans in any currency; for flat-rate loans use the EMI calculator first.
See also: Mortgage Payment Calculator (PITI).
Assumptions
- Level payment from the amortising formula; interest each month = balance × rate ÷ 12, remainder to principal; extra principal applied every month.
- Dates advance one calendar month from the first payment date; CSV lists every payment with cumulative interest.
- Crossover = first month principal exceeds interest; half-paid = first month the balance is at or below half the loan.
Worked example
Payment 1,498.88; total interest about 289,600; payoff December 2056. Payment 1 is 1,250 interest and 249 principal; principal overtakes interest at payment 223 (July 2045) and half the balance is cleared at payment 252 — 70% of the way through. Adding 200 a month ends the loan in 267 payments (March 2049), 93 months early, saving about 86,200 of interest.
Frequently asked questions
What is an amortization schedule?
A table of every payment on a loan showing how much goes to interest, how much to principal and the balance left — the standard way to see the true cost of a loan over time.
Why is so little principal paid at the start?
Because interest is charged on the full balance; as the balance falls the interest share falls with it, so the principal share rises every month.
Does a bi-weekly payment help?
Paying half the monthly amount every two weeks makes 13 monthly payments a year — about the same as adding one twelfth of the payment as extra principal each month.
Can I use this for a UAE or Pakistan loan?
Yes for reducing-balance loans; enter the currency symbol. For a flat-rate quote, convert it with the EMI calculator first.
How do I get an amortization schedule with dates?
Enter the first payment month; every row is dated from there and the CSV includes the dates.
What happens to the schedule if I pay extra?
The payment stays the same, the balance falls faster and the loan ends early; the schedule and CSV reflect the extra from the first payment.
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