Free Loan Amortization Schedule Calculator
An amortization schedule shows every single monthly payment of a loan — how much principal you paid down, how much interest you paid and the remaining balance. Use it to plan prepayments, compare loan structures or share with your accountant.
Results
Disclaimer: This calculator provides estimates only and does not constitute financial advice. Actual loan terms may vary by lender.
What the Amortization Schedule Calculator does
A loan amortization schedule is the itemized, month-by-month breakdown of every payment on a fixed-rate loan, splitting each payment into its interest and principal components and showing the declining balance. It is the document lenders and accountants use to verify exactly how a loan pays down over time.
Methodology and formula
For each month: Interest = Opening balance x (annual rate / 12); Principal = Monthly payment - Interest; Closing balance = Opening balance - Principal, repeated until the balance is zero.
Worked example
- Inputs
- Loan amount 20,000; annual rate 8%; term 3 years (36 months).
- Result
- Monthly payment about 627; month 1 interest about 133 and principal about 494; month 36 interest under 5.
By month 18 the principal share of the payment already exceeds the interest share. Exporting the full table lets you see exactly when that crossover happens for your own loan terms.
When to use this tool
Use the Business Loan Calculator first to size the monthly payment, then generate the full schedule here for documentation or prepayment planning. Use the Refinance Calculator instead if you're comparing this loan to a new offer.
About the Amortization Schedule Calculator
How the schedule is built
For each month: interest = current balance × monthly rate; principal = monthly payment − interest; new balance = old balance − principal. Repeat until the balance reaches zero. The monthly payment stays constant while the principal and interest components shift.
What the schedule reveals
In year one of a 10-year loan, you might pay down only 5–8% of the principal — the rest goes to interest. Seeing that written out month by month is what convinces most borrowers to shorten tenure or make part-prepayments.
Using the export
Download as CSV to open in Excel or Google Sheets, or as PDF to attach to a loan application or share with your CA. Both include every row of the schedule plus a summary of total principal and interest paid.
Frequently asked questions
What is an amortization schedule?
Can I download the schedule?
Does this handle part-prepayment?
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