Loan Amortization Calculator

Generate comprehensive amortization schedules with custom payment intervals, compounding modes, and advanced extra payment plans.

Loan Principal ($)

Annual Rate (%)

Duration

Payment Frequency

Advanced Extra Payments (Accelerator)

Extra Per Period ($)

One-Time Extra ($)

Annual Extra ($)

First Payment Month

Compounding Method

Remaining Loan Balance Payoff Curve

Year	Range	Payments	Principal	Interest	Balance
1	Jan 2026–Dec 2026	$15,169.63	$2,235.45	$12,934.18	$197,764.55
2	Jan 2027–Dec 2027	$15,169.63	$2,385.16	$12,784.47	$195,379.39
3	Jan 2028–Dec 2028	$15,169.63	$2,544.90	$12,624.73	$192,834.48
4	Jan 2029–Dec 2029	$15,169.63	$2,715.34	$12,454.29	$190,119.14
5	Jan 2030–Dec 2030	$15,169.63	$2,897.19	$12,272.44	$187,221.95
6	Jan 2031–Dec 2031	$15,169.63	$3,091.22	$12,078.41	$184,130.73
7	Jan 2032–Dec 2032	$15,169.63	$3,298.25	$11,871.39	$180,832.49
8	Jan 2033–Dec 2033	$15,169.63	$3,519.13	$11,650.50	$177,313.35
9	Jan 2034–Dec 2034	$15,169.63	$3,754.82	$11,414.81	$173,558.54
10	Jan 2035–Dec 2035	$15,169.63	$4,006.28	$11,163.35	$169,552.25

Cost Outcomes

Payment / Period:$1,264.14

Total Interest Paid:$255,088.98

Total Repayments:$455,088.98

Compounding frequencies: Frequent payment and compounding schedules (e.g. bi-weekly) lower the accrued balance faster than standard monthly methods.

Compounding interest and loan payoffs

Amortization maps fixed debt repayments across compounding curves. The periodic payment is:PMT = P × r(1+r)^n / ((1+r)^n − 1).

Adding extra payments directly lowers the principal. This reduces compounding duration and overall interest charges.

Built and maintained by Meet Shah · Last updated 4 August 2026

What this tool is used for

Seeing how much of an early payment goes to interest rather than principal.
Comparing two loan offers with different rates and terms on total interest paid.
Working out the effect of an extra monthly payment on the payoff date.
Producing a schedule to check against a lender's own statement.
Understanding how a longer term lowers the payment while raising the total cost.

Frequently Asked Questions

What does an amortisation schedule show?: The split of every payment between interest and principal, and the balance after each. The payment is constant while the split shifts — which is the whole reason the schedule is worth seeing rather than just the monthly figure.
Why is early payment almost all interest?: Because interest is charged on the outstanding balance, which is near its maximum at the start. On a 30-year loan at 6% the crossover where principal exceeds interest arrives around year eighteen — well past the halfway point in time.
How much does an extra payment save?: More than its size, because every unit of principal removed also removes all future interest on it. One extra monthly payment a year typically cuts four to six years from a 30-year term, and the earlier it lands the larger the effect.
What is negative amortisation?: A payment smaller than the interest accruing, so the balance grows. It happens with some minimum-payment credit arrangements and with certain adjustable mortgages, and it is the mechanism by which a borrower makes payments for years and owes more.
Does the schedule include everything I pay?: No — principal and interest only. Property tax, insurance, mortgage insurance and any fee are separate and commonly add 20–30% on top, which is why the schedule's monthly figure is lower than the amount actually leaving your account.

Common errors and gotchas

Confusing the nominal rate with the effective one, which differ once compounding frequency is involved.
Assuming the payment covers only principal and interest. Escrow, insurance and fees are usually extra.
Expecting a schedule to match a lender's exactly. Day-count conventions and rounding rules vary.
Treating the rate as fixed when the product is variable, which makes the whole schedule indicative only.
Overlooking early-repayment penalties, which can cancel the saving from paying extra.