Tools · Amortization schedule
Loan amortization schedule calculator
See every payment on a reducing balance loan split into interest and principal, with the balance after each one. Change the amount, rate, term or frequency and download the schedule.
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An amortization schedule shows each payment on a loan, how much of it is interest, how much repays principal, and the balance left. Enter the loan amount, annual rate, number of installments and frequency to generate the schedule, choose equal installments or equal principal, and download it as CSV.
- Payment each period
- 88.85
- Total interest
- 66.19
- Total repaid
- 1,066.19
- Real annual cost (APR)
- 12.00%
- 12.68% compounded
| Payment | Amount | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | 88.85 | 10.00 | 78.85 | 921.15 |
| 2 | 88.85 | 9.21 | 79.64 | 841.51 |
| 3 | 88.85 | 8.42 | 80.43 | 761.08 |
| 4 | 88.85 | 7.61 | 81.24 | 679.84 |
| 5 | 88.85 | 6.80 | 82.05 | 597.79 |
| 6 | 88.85 | 5.98 | 82.87 | 514.92 |
| 7 | 88.85 | 5.15 | 83.70 | 431.22 |
| 8 | 88.85 | 4.31 | 84.54 | 346.68 |
| 9 | 88.85 | 3.47 | 85.38 | 261.30 |
| 10 | 88.85 | 2.61 | 86.24 | 175.06 |
| 11 | 88.85 | 1.75 | 87.10 | 87.96 |
| 12 | 88.84 | 0.88 | 87.96 | 0.00 |
Figures are rounded to two decimals per payment, and the final payment absorbs any rounding difference of a cent or two. This calculator is an illustration, not a loan offer, and does not account for local disclosure or interest rules.
How to read an amortization schedule
Each row is one installment. Interest is the periodic rate times the balance at the start of the period. Principal is the payment minus that interest, and it is what actually reduces the debt. Balance is what is still owed afterwards. On an equal-installment loan the payment is constant, so early rows are mostly interest and later rows mostly principal. On an equal-principal loan the principal repaid is constant and the payments fall over time.
Two facts follow. First, interest falls every period because it is charged on a shrinking balance. Second, the balance falls slowly at first: after half the term, a borrower on an equal-installment loan has repaid noticeably less than half the principal. That matters for early settlement, where the amount owed is the outstanding balance plus accrued interest and charges, not the sum of the remaining payments.
How the schedule is calculated
For equal installments the payment is Payment = P × r ÷ (1 − (1 + r)^−n), where P is the amount, r is the rate per period (the annual rate divided by the number of periods in a year) and n is the number of installments. Then, for each period, interest = balance × r, principal = payment − interest, and new balance = balance − principal. The final payment clears any rounding difference.
For a worked 12-month example with every row, see loan amortization schedule explained. For the other interest methods, use the loan calculator.
Using a schedule in a real loan book
A schedule is a plan, and real payments deviate from it: early, late and partial payments all change the balance and the interest. Lenders who generate schedules in software get a schedule that updates as payments are recorded, applies each payment in a defined order, and produces statements for borrowers. See repayment allocation order and loan servicing.
Frequently asked questions
What is a loan amortization schedule?
A table of every scheduled payment on a loan showing the interest, the principal repaid and the remaining balance after each payment.
How do I calculate an amortization schedule?
Find the periodic rate, calculate the payment with the annuity formula, then for each row take interest as the balance times the rate, principal as the payment minus interest, and reduce the balance by the principal.
Why is most of my early payment interest?
Interest is charged on the balance, which is highest at the start. As principal is repaid the balance and the interest fall, so more of each payment goes to principal.
Can I download the schedule?
Yes. Use the Download schedule (CSV) button, which opens in Excel or Google Sheets.
Related guides and tools
- Loan calculatorAll interest methods, with a fee option.
- Flat vs reducing balance calculatorCompare the two side by side.
- Loan amortization schedule explainedA full 12-month example, row by row.
- Amortization scheduleDefinition and example.
- InstallmentOne scheduled payment on a loan.
- Loan servicing softwareSchedules that update as payments arrive.
Calculators show one loan. LoanTabs builds the schedule for every loan you make, applies each payment and keeps the books in step.
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