Free tool
Loan amortization schedule calculator
Overview
Enter a loan amount, an interest rate and the years to see the monthly payment and a year-by-year split of interest and principal.
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Excel workbook · $24
Debt Avalanche & Amortization Matrix
Enter your debts and one monthly amount and see the order, the dates and the interest you avoid, in a file that never connects to your bank.
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How it works
How it works
Each month the interest is the balance times the monthly rate, and the rest of the payment reduces the balance. Early payments are mostly interest, and later payments are mostly principal. The table adds up each year.
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FAQ
About this calculator
What is amortization?
Paying a loan down in regular installments so the balance reaches zero at the end of the term.
Why is so much of the early payment interest?
Interest is charged on the remaining balance, which is highest at the start.
Does an extra payment help?
Extra principal lowers the balance, which lowers the interest charged afterward. Check that your lender applies it to principal and does not charge a prepayment fee.
Is anything saved?
No. The math runs in your browser and nothing you enter is sent to us.
Is this a quote or advice?
No. It is a calculator for general information. Check results against your own figures before you rely on them.
Read the guide: How Car Loan Interest Works, Month by Month. Related: business loan payment calculator, loan comparison calculator. See all free tools. More free tools: NJ Sales Tax Splitter, Notary Journal Digitizer, Collections Manager, or see all free tools.
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Excel workbook
Debt Avalanche & Amortization Matrix
Enter your debts and one monthly amount and see the order, the dates and the interest you avoid, in a file that never connects to your bank.
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