Free Amortization Calculator - Full Loan Payment Schedule

An amortization schedule shows every loan payment from start to finish. See how much of each payment goes to principal vs interest, and track your remaining balance over time.

What Is This Tool?

An amortization schedule is a table of every loan payment showing the payment number, payment amount, interest portion, principal portion, and remaining balance. It helps you understand the true cost of borrowing.

Formula: =PMT(rate/12, term*12, -loan) for payment. =IPMT(rate/12, period, term*12, -loan) for interest. =PPMT(rate/12, period, term*12, -loan) for principal.

How to Use

Enter Loan Details

Input the loan amount, annual interest rate, and loan term in years.

View the Amortization Table

The full schedule is generated automatically. Each row shows payment number, amount, interest, principal, and balance.

💡 Scroll to see the entire loan term. Early payments are mostly interest.

Add Extra Payments

Enter an extra monthly payment amount to see how much interest you save and how much earlier the loan is paid off.

Review the Summary

The summary shows total payments, total interest, payoff date, and interest saved with extra payments.

Benefits

✓Full payment-by-payment amortization table

✓See total interest cost over the loan life

✓Compare with extra payment scenarios

✓Understand principal vs interest breakdown

✓Make informed borrowing decisions

Frequently Asked Questions

What is an amortization schedule?

It is a complete table of loan payments showing the breakdown of each payment into principal and interest over the full loan term.

How does extra payment affect my loan?

Extra payments reduce the principal faster, saving interest and shortening the loan term. The calculator shows exactly how much.

Can I use this for any loan type?

Yes. Works for mortgages, car loans, personal loans, and student loans with fixed interest rates.

Related Templates

Loan Amortization Template Budget Planner