Loan Amortization Calculator

An amortization schedule is a complete table showing every periodic payment throughout the loan term, detailing how much goes toward principal, how much goes toward interest, and the remaining loan balance after each payment.

Under the reducing balance method, interest is calculated on the remaining loan principal. Since the principal balance is highest at the start of the loan, early installments consist mostly of interest, with principal repayment accelerating in later years.

Extra payments are applied directly to reducing principal balance. This reduces future interest accrual, shortens the overall repayment term, and saves thousands in cumulative interest.

Yes, our amortization calculator generates complete schedules that can be reviewed online with monthly and annual summary breakdowns.