Amortization Schedule
Enter a loan amount, rate and term to see each payment split into interest and principal, and how the balance falls.
Your details
Result
Monthly payment
1,111.66
300 payments
- Total interest
- 133,499.49
- Total paid
- 333,499.49
- Principal200,000 (60%)
- Interest133,499 (40%)
Payment schedule
| Month | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | 1,111.66 | 750.00 | 361.66 | 199,638.34 |
| 2 | 1,111.66 | 748.64 | 363.02 | 199,275.31 |
| 3 | 1,111.66 | 747.28 | 364.38 | 198,910.93 |
| 4 | 1,111.66 | 745.92 | 365.75 | 198,545.18 |
| 5 | 1,111.66 | 744.54 | 367.12 | 198,178.06 |
| 6 | 1,111.66 | 743.17 | 368.50 | 197,809.56 |
| 7 | 1,111.66 | 741.79 | 369.88 | 197,439.69 |
| 8 | 1,111.66 | 740.40 | 371.27 | 197,068.42 |
| 9 | 1,111.66 | 739.01 | 372.66 | 196,695.76 |
| 10 | 1,111.66 | 737.61 | 374.06 | 196,321.71 |
| 11 | 1,111.66 | 736.21 | 375.46 | 195,946.25 |
| 12 | 1,111.66 | 734.80 | 376.87 | 195,569.38 |
Good to know: Early payments are mostly interest. Over time, more of each payment reduces the balance.
Please note: Illustrative estimate based only on the numbers you enter. This is not financial, investment, tax or legal advice and not an offer of any product. Real products have fees, rate changes and rules this tool does not model. Check figures with your lender or a qualified, independent adviser before you decide.
About this tool
Generate a full month-by-month loan schedule showing each payment's split between interest and principal, and the running balance.
Formula
payment = P × r ÷ (1 − (1 + r)^−n); interest of month k = balance × r; principal = payment − interest.
Reference values
- Early payments are mostly interest
- Extra principal shortens the term fastest early on
- Total interest = payment × n − principal
Questions people ask
What is an amortization schedule?
A table showing each payment on a loan and how much goes to interest and principal.
Why is so much of my early payment interest?
Interest is charged on the outstanding balance, which is highest at the start.
How can I pay off a loan faster?
Extra payments toward principal reduce the balance sooner and cut total interest.
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How we calculate this
We use the standard published formula or definition for this calculation, and we show the working so you can check it.
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