Loan Amortization Calculator
Break down any loan into a monthly schedule of principal, interest, and remaining balance.
Amortization schedule
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $6,011.38 | $4,281.58 | $1,729.81 | $20,718.42 |
| 2 | $6,011.38 | $4,613.97 | $1,397.42 | $16,104.46 |
| 3 | $6,011.38 | $4,972.16 | $1,039.22 | $11,132.29 |
| 4 | $6,011.38 | $5,358.16 | $653.22 | $5,774.13 |
| 5 | $6,011.38 | $5,774.13 | $237.25 | $0.00 |
About this calculator
A loan amortization schedule shows exactly how every monthly payment on a fixed-rate loan is split between interest and principal, and how your remaining balance shrinks over time. Early payments are mostly interest; as the balance falls, more of each payment goes to principal. Use this calculator for auto loans, personal loans, or any standard fixed-rate mortgage.
Field explanations
- Loan amount
- The total amount borrowed (the principal at the start of the loan).
- Interest rate
- The annual interest rate (APR) on the loan. A lower rate means less interest paid over the life of the loan.
- Loan term (years)
- How long you have to repay the loan. Longer terms reduce the monthly payment but increase total interest.