Amortization Calculator

Generate a full month-by-month or year-by-year loan payment schedule

Each extra dollar/rupee saved goes straight to principal
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Reading the Amortization Schedule

Why does more go to interest early on?

In the early months, your loan balance is highest, so the interest charge (balance × monthly rate) is highest. As you pay down principal, less of each payment goes to interest and more goes to principal. This is why the last few payments are almost entirely principal.

How do extra payments help?

Any extra amount you pay goes directly to reducing the principal balance. This reduces the interest charged in every future month, compounding the savings. Even $100/month extra on a 30-year mortgage can save years of payments and thousands in interest.

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