See exactly how each payment reduces your loan. Choose payment frequency and compounding separately, then review an annual summary or every payment period. Add optional extra principal to see how the schedule changes.
Payment-by-payment breakdown • Annual summary • Extra-payment comparisonPrincipal and interest over time
Remaining balance
Blue: standard amortization. Green dashed: extra-payment plan. The horizontal axis shows payment periods.
| Measure | Standard | With extra payments |
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Amortization schedule
| Period | Scheduled payment | Extra principal | Principal paid | Interest | Ending balance |
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How to use this amortization calculator
Enter the starting loan principal, annual nominal rate, and term. Choose how often payments are made and how often interest compounds. These are separate choices. Use the optional fee section to show an upfront, deducted, or financed one-time fee. Add regular or one-time extra principal to compare an accelerated payoff.
What an amortization schedule shows
Each payment is split between interest and principal. Early payments usually include more interest because the balance is larger. As principal falls, less interest accrues each period, so more of the scheduled payment reduces principal. The ending balance shows what remains after each period.
View the formula and rate conversion
For a nominal annual rate j compounded m times per year, with f payments per year, the equivalent payment-period rate is r = (1 + j/m)m/f − 1. For starting balance P and n total payments, the regular payment is P × r ÷ (1 − (1 + r)−n). At 0% interest, it is P ÷ n.
If compounding is set to “same as payment frequency,” m equals f. If you select different frequencies, the calculator converts the compounding convention into an equivalent rate per payment period. Payments are evenly spaced in this model.
How extra principal changes the schedule
Extra principal is applied after the scheduled payment and reduces the balance used to calculate later interest. The scheduled payment stays the same, while the final payment is capped at the balance and interest due. Extra payments after payoff are not included.
Fees and total borrowing cost
A financed fee is added to the starting balance and is amortized with the loan. An upfront fee is paid separately; a deducted fee reduces cash received. The summary shows interest and fees so you can understand the modeled costs. This tool does not calculate APR.
Questions and limitations
Why might my lender’s schedule differ?
Actual due dates, daily interest, payment posting, rounding, variable rates, fees, and payment allocation rules can change the schedule. This calculator assumes a fixed rate and evenly spaced payments.
Does this work at 0% interest?
Yes. Set the annual rate to zero. The principal is divided across the selected number of payments, with extra amounts reducing the balance sooner.
Does the currency selector convert my amounts?
No. It changes the display symbol and formatting only. Convert your inputs yourself before using a different currency.
Are my inputs saved?
The calculation runs in your browser. The website host or other installed plugins may have separate analytics and privacy practices.
Results are estimates for general information. Check your loan agreement for the exact payment schedule and payoff amount.