Amortization schedule calculator, every payment listed.

An amortization schedule is a table that lists every payment on a loan and splits it into interest and principal. Each row shows the date, the payment, the interest, the principal and the balance that is left. This amortization schedule calculator builds that table from the loan amount, the yearly rate and the term. It can also start from the payment your lender gave you, add extra payments, change the rate part way through and look up the balance on any date. It names no lender and suggests no rate. Every number in a box is an example, so type your own.

How to use the amortization schedule calculator

1. Type the Loan amount and the Interest rate a year (%). Commas are fine, and 250k works too.
2. Pick Work out the payment and type the Term, or pick I know the payment and type it.
3. Choose how often you pay under You pay, and pick the date of the First payment on so every row has a real date.
4. To see the effect of extra money, open Extra payments and a rate change and fill in Extra with every payment, Extra once a year or One-off lump sums.
5. Read the cards, then the table. Switch between By year and Every payment.
6. Use Download schedule (PDF) for a printable copy, Download table (CSV) for a spreadsheet, or Copy link to these numbers to come back later.

A worked example

Take 250,000 at 6.5% a year over 30 years, paid monthly. The monthly rate is 6.5 ÷ 12 = 0.541667%. The payment is 250,000 × r ÷ (1 − (1 + r)⁻³⁶⁰), which is 1,580.17. In the first payment the interest is 250,000 × 0.00541667 = 1,354.17, so only 226.00 goes to principal and the balance falls to 249,774.00. By payment 12 the interest part has slipped to 1,340.33. Over the whole first year you pay 18,962.04, of which 16,167.73 is interest and 2,794.31 is principal. More of each payment goes to principal than to interest from payment 233 on, about 19 years and 5 months in. Over 30 years the total interest is 318,861.58 and you pay 568,861.58 in all.

What extra payments do

Extra money goes entirely to principal, so the next payment has less interest in it. The effect grows over time. On the same loan, adding 200 to every payment ends it after 265 payments instead of 360, which is 22 years and 1 month. The interest drops from 318,861.58 to 221,243.14, a saving of 97,618.44. One lump sum of 10,000 with payment 12 ends the loan after 323 payments and cuts the interest to 269,588.09. An extra 2,000 once a year ends it after 279 payments with 235,802.63 of interest. Ask your lender first whether extra payments are allowed and whether they are applied to principal, because a few loans charge a prepayment fee or apply extra money to the next payment instead.

Paying every two weeks

There are two ways to pay every two weeks. Every 2 weeks uses the normal formula with 26 payments a year and a rate of one 26th of the yearly rate in each. Every 2 weeks, half the monthly payment takes the monthly payment, here 1,580.17, pays half of it (790.09) 26 times a year, and so pays about one extra monthly payment a year. On the example loan that clears the debt after 628 payments, about 24 years and 2 months, with 245,422.11 of interest. Lenders differ in how they apply a two week plan, so use this as a close picture and check the terms.

A rate that changes

For a loan with a rate that changes, type the new rate and the payment number it starts from. The page works out a new payment for the balance and the payments left. For example, 250,000 over 30 years at 5% has a payment of 1,342.05. If the rate becomes 7% from payment 61, the payment becomes 1,622.57 and the total interest is 317,292.33, against 233,141.28 if the rate had stayed at 5%. The new rate is whatever you type. The page does not guess what rates will do.

Why a lender’s statement may differ

• The page rounds the payment and the interest of each row to the cent and lets the last payment take up the few cents left over, which is how most statements work. In the example the last payment is 1,580.55.
• Some lenders count interest by the day, on 360 or 365 day years, so a month with 31 days costs more than one with 28.
• Fees, insurance and escrow are not part of the schedule. Mortgage payments often include them on top.

To find the payment for a car or personal loan and see how fees change the real cost, try the loan calculator. For a home loan with tax and insurance use the mortgage calculator. To see how savings grow instead, there is the compound interest calculator.