Finance
Loan Amortization Schedule Calculator
Generate a month-by-month payment schedule showing principal, interest, and the remaining balance, with optional extra payments. Nothing you enter leaves your browser.
Enter your values, then calculate.
Calculation method
A transparent estimate.
Every adjustable assumption stays visible, so you can understand what drives the result and tailor it to your situation.
Payment ≈ P × r / (1 − (1 + r)^−n), or P / n at 0% interest; P = remaining principal, n = months, r = annual interest rate (%) / 1200. Monthly interest = balance × r; principal paid = payment − interest. Interest saved = original total interest − total interest with extra payments.What this estimate assumes
- Uses USD, a fixed nominal annual interest rate, and monthly payments at the end of each month. Enter the interest rate rather than APR, which may include fees.
- Interest is rounded to cents monthly. Estimated payments use the smallest whole-cent amount that repays the balance within the selected term; the final payment is capped at the amount owed.
- Supports 1–600 months and annual interest rates from 0% to 100%. Taxes, insurance, variable rates, daily interest, and prepayment penalties are excluded.
- The regular payment is estimated from the remaining balance and term. A lump sum reduces principal immediately, before interest accrues, and is capped at the remaining balance.
- Extra monthly payments start with month 1 and go toward principal after interest. The regular payment stays fixed; the loan is not recast. Confirm how your lender applies extra payments.
Research sources
What this tool does
About the Loan Amortization Schedule Calculator
Generate a month-by-month payment schedule showing principal, interest, and the remaining balance, with optional extra payments. It is a planning aid for comparing scenarios; it is not financial, tax, lending, or investment advice.
The calculation uses remaining loan balance, annual interest rate (not apr), remaining loan term, extra monthly principal payment, and immediate lump-sum principal payment.
How to use it
- Review the starting values for remaining loan balance, annual interest rate (not apr), remaining loan term and replace them with your own.
- Choose any available units or assumptions, then select “Generate payment schedule.”
- Read the labeled result, compare another scenario if needed, and copy the output for your notes.
Practical example
Start with a known input
The workbench starts with a complete scenario: Remaining loan balance: 25000 $ Annual interest rate (not APR): 7.5 % Remaining loan term: 60 months Extra monthly principal payment: 0 $ Change one assumption at a time to see how it affects the result.
What to know about the result
- Results are estimates based only on the supplied values. Rounding, fees, local rules, and real-world conditions may change the final outcome.
Common questions
Using the Loan Amortization Schedule Calculator
Is the Loan Amortization Schedule Calculator free to use?
Yes. FormatCalc's Loan Amortization Schedule Calculator is free to use with no account required.
Is my data private when I use the Loan Amortization Schedule Calculator?
Yes. This tool processes your input locally in your browser. FormatCalc does not upload or store what you enter.
How do I use the Loan Amortization Schedule Calculator?
Enter your values, select any units, and choose Generate payment schedule. You can then copy the result.
How is the Loan Amortization Schedule Calculator calculated?
It uses Payment ≈ P × r / (1 − (1 + r)^−n), or P / n at 0% interest; P = remaining principal, n = months, r = annual interest rate (%) / 1200. Monthly interest = balance × r; principal paid = payment − interest. Interest saved = original total interest − total interest with extra payments.. The result is a planning estimate based on the values and assumptions shown on this page.