Loan Amortization Calculator

Generate a full amortization schedule showing monthly payments, interest, and principal.

Investments

Currency

Loan Amount $

Annual Interest Rate %

Years

Extra Months (optional)

Fees and interest basis

Arrangement fee

Monthly fee

Interest basis

Enter your loan details and click Calculate to see the full amortization schedule.

Results are informational. Calculation is based on your input and public rules, official accounting may differ. For accuracy, confirm the final result if needed from the appropriate official source or specialist. See the terms of use.

How it works?

With an annuity loan the monthly payments are equal over the whole term. Each payment covers the interest first and the rest goes to repaying the principal. Early payments are mostly interest, later ones more and more principal. That is why the balance falls slowly at the start.

The formula is PMT = P × r(1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan amount, r the monthly rate and n the number of payments. The monthly payment is rounded to the cent, the interest is calculated separately for each month and the last payment pays off exactly the remaining balance.

The yearly bars show how the balance shrinks over time: slowly in the first years, faster later.

The APR is the yearly rate at which the amount paid out equals the present value of all repayments and fees. Lenders compute it the same way (the consumer credit directive): a month is 1/12 of a year and an arrangement fee counts as paid on the day the loan is paid out. Without fees the APR is slightly above the interest rate, because interest compounds every month.

If your bank counts interest by the days (actual/360), choose that as the interest basis. A month's interest is then on average 365/360 times what 12 equal months give.

Frequently asked questions

Why is so much of my early payment interest?

Because interest is charged on the outstanding balance. When the balance is high (early in the loan), the interest portion is large. As you pay down principal, less of each payment goes to interest and more to principal. This is why extra early repayments save disproportionately large amounts of interest.

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What happens if I make an extra payment?

Any extra payment goes entirely to principal, which reduces the balance on which future interest is calculated. Even one extra payment per year can shave about three years off a 25-year mortgage and save thousands in interest.

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What is the difference between a 20-year and 25-year mortgage?

A shorter term means higher monthly payments but significantly less total interest. A 5-year shorter term on a $200,000 loan at 4.5% saves roughly $25,000–$30,000 in interest, though your monthly payment rises by around $150–200. Use the calculator to compare both scenarios.

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Does the calculator include fees?

Yes. Add the arrangement fee and the monthly fee to see the fees in total, the total paid and the APR. The APR is the loan's yearly price with interest and fees, and a lender must show it in an offer, so it is the figure to compare offers by. Insurance, collateral costs and a variable rate stay outside the calculation.

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What does the bar chart in the schedule mean?

Each bar represents the proportion of the original loan still outstanding at the end of that year. A fully filled bar means you still owe 100%; an empty bar means the loan is paid off. The coloured part shows the remaining balance as a share of the original principal.

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How do I check whether my loan balance is right?

Choose "Check your loan" and enter the amount in the contract, the rate, the monthly payment and how many months you have paid. The calculator shows what the balance should be. If the lender shows a much larger balance, ask for a statement of payments: usually the reason is money added to the loan, missed payments or fees.

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