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Amortization Schedule Calculator

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See exactly how a loan pays down over time — how much of each year's payments goes to interest versus principal, and how the balance shrinks. This is the same math behind our Loan and Mortgage calculators, shown as a full year-by-year table instead of a single payment figure.

Amortization Schedule Calculator

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Monthly payment
$1,896.20
Total interest
$382,633
Total paid
$682,633
Table below shows a year-by-year breakdown, not month-by-month.
Year Principal paid Interest paid Ending balance

How amortization works

Each payment covers that period's interest first, with the remainder reducing principal. Because interest is charged on the remaining balance, early payments are mostly interest — and as the balance shrinks, more of each payment goes toward principal.

Example

A $300,000 loan at 6.5% over 30 years (payment ≈ $1,896.20/month): in year 1, about $3,353 goes to principal and $19,401 to interest. By year 15, roughly $8,310 goes to principal and $14,445 to interest. By year 30, almost the entire payment — about $21,973 for the year — goes to principal, since the balance is nearly paid off.

Step-by-step guide

  1. Enter your loan amount, rate, and term.
  2. Scroll the table to see how the principal/interest split shifts year by year.
  3. Compare the total interest figure against the loan amount to see the full cost of borrowing.

Common mistakes

Assuming the interest and principal split stays constant throughout the loan — it shifts significantly, with interest dominating early payments on a long-term loan.
Not realizing how much extra payments help early in the loan — reducing principal sooner cuts the interest calculated on it for the rest of the term.

Frequently asked questions

Why is so much of my early payment interest?

Interest is calculated on the current balance, which is at its highest right after taking out the loan. As the balance shrinks, the interest portion of each payment shrinks too, and more goes to principal.

Does this show a month-by-month breakdown?

This table summarizes by year to keep it readable for long-term loans. The calculation itself is done month by month internally, so the yearly figures are accurate sums of 12 real monthly payments.

How would extra payments change this table?

Extra payments reduce the balance faster than shown here, which lowers future interest and shortens the loan. See our Mortgage Payoff Calculator to model extra payments directly.

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