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Amortization Schedule

Generate a detailed amortization schedule for any loan. See how each payment is split between principal and interest over the life of your loan.

Loan Details

How It Works

Amortization is the process of spreading a loan into a series of fixed payments. Each payment covers interest on the remaining balance, with the rest going toward principal:

Monthly Payment = P × [r(1 + r)^n] / [(1 + r)^n - 1]


  • P = Loan principal
  • r = Monthly interest rate (annual rate / 12)
  • n = Total number of payments (years × 12)

Early payments are mostly interest. As the balance decreases, more of each payment goes toward principal. Extra payments reduce the balance faster, saving interest and shortening the loan term.

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