Amortization Schedule Calculator

An amortization schedule breaks down every single payment over the life of a loan into two parts, interest and principal, showing exactly how the balance decreases over time. Early payments are weighted more toward interest, while later payments shift increasingly toward principal, even though the total payment amount stays fixed.

This tool works for any type of amortizing loan, personal loans, business loans, or any fixed-rate installment loan, not just mortgages or car loans specifically. If you're working with a home loan or auto loan specifically, our Mortgage Calculator and Auto Loan Calculator include the same schedule with terminology tailored to that loan type.

A $20,000 loan at 6% annual interest over 60 months produces a fixed monthly payment of $386.66. In month 1, $100 of that payment is interest (6% ÷ 12 × $20,000) and the remaining $286.66 reduces the principal. By the end of the schedule, total interest paid comes to $3,199.33, roughly 16% of the original loan amount. As the balance shrinks each month, the interest portion of the fixed payment shrinks with it, and the principal portion grows to compensate.