Loan Calculator (Amortization)
Calculate monthly loan payments and view a full amortization schedule. It’s helpful for personal loans, auto loans, and any fixed-rate installment loan.
Inputs
$
%
$
Summary
Monthly payment$500.95
Total interest$5,056.92
Total paid$30,056.92
Payoff dateDec 21, 2030
Showing the first 24 payments below (expand for full schedule).
This assumes a fixed interest rate for the full term.
Amortization schedule
| # | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Jan 2026 | $500.95 | $344.70 | $156.25 | $24,655.30 |
| 2 | Feb 2026 | $500.95 | $346.85 | $154.10 | $24,308.45 |
| 3 | Mar 2026 | $500.95 | $349.02 | $151.93 | $23,959.43 |
| 4 | Apr 2026 | $500.95 | $351.20 | $149.75 | $23,608.22 |
| 5 | May 2026 | $500.95 | $353.40 | $147.55 | $23,254.83 |
| 6 | Jun 2026 | $500.95 | $355.61 | $145.34 | $22,899.22 |
| 7 | Jul 2026 | $500.95 | $357.83 | $143.12 | $22,541.39 |
| 8 | Aug 2026 | $500.95 | $360.07 | $140.88 | $22,181.33 |
| 9 | Sep 2026 | $500.95 | $362.32 | $138.63 | $21,819.01 |
| 10 | Oct 2026 | $500.95 | $364.58 | $136.37 | $21,454.43 |
| 11 | Nov 2026 | $500.95 | $366.86 | $134.09 | $21,087.57 |
| 12 | Dec 2026 | $500.95 | $369.15 | $131.80 | $20,718.42 |
| 13 | Jan 2027 | $500.95 | $371.46 | $129.49 | $20,346.96 |
| 14 | Feb 2027 | $500.95 | $373.78 | $127.17 | $19,973.18 |
| 15 | Mar 2027 | $500.95 | $376.12 | $124.83 | $19,597.07 |
| 16 | Apr 2027 | $500.95 | $378.47 | $122.48 | $19,218.60 |
| 17 | May 2027 | $500.95 | $380.83 | $120.12 | $18,837.77 |
| 18 | Jun 2027 | $500.95 | $383.21 | $117.74 | $18,454.56 |
| 19 | Jul 2027 | $500.95 | $385.61 | $115.34 | $18,068.95 |
| 20 | Aug 2027 | $500.95 | $388.02 | $112.93 | $17,680.93 |
| 21 | Sep 2027 | $500.95 | $390.44 | $110.51 | $17,290.49 |
| 22 | Oct 2027 | $500.95 | $392.88 | $108.07 | $16,897.60 |
| 23 | Nov 2027 | $500.95 | $395.34 | $105.61 | $16,502.27 |
| 24 | Dec 2027 | $500.95 | $397.81 | $103.14 | $16,104.46 |
Show full schedule (60 rows)
| # | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Jan 2026 | $500.95 | $344.70 | $156.25 | $24,655.30 |
| 2 | Feb 2026 | $500.95 | $346.85 | $154.10 | $24,308.45 |
| 3 | Mar 2026 | $500.95 | $349.02 | $151.93 | $23,959.43 |
| 4 | Apr 2026 | $500.95 | $351.20 | $149.75 | $23,608.22 |
| 5 | May 2026 | $500.95 | $353.40 | $147.55 | $23,254.83 |
| 6 | Jun 2026 | $500.95 | $355.61 | $145.34 | $22,899.22 |
| 7 | Jul 2026 | $500.95 | $357.83 | $143.12 | $22,541.39 |
| 8 | Aug 2026 | $500.95 | $360.07 | $140.88 | $22,181.33 |
| 9 | Sep 2026 | $500.95 | $362.32 | $138.63 | $21,819.01 |
| 10 | Oct 2026 | $500.95 | $364.58 | $136.37 | $21,454.43 |
| 11 | Nov 2026 | $500.95 | $366.86 | $134.09 | $21,087.57 |
| 12 | Dec 2026 | $500.95 | $369.15 | $131.80 | $20,718.42 |
| 13 | Jan 2027 | $500.95 | $371.46 | $129.49 | $20,346.96 |
| 14 | Feb 2027 | $500.95 | $373.78 | $127.17 | $19,973.18 |
| 15 | Mar 2027 | $500.95 | $376.12 | $124.83 | $19,597.07 |
| 16 | Apr 2027 | $500.95 | $378.47 | $122.48 | $19,218.60 |
| 17 | May 2027 | $500.95 | $380.83 | $120.12 | $18,837.77 |
| 18 | Jun 2027 | $500.95 | $383.21 | $117.74 | $18,454.56 |
| 19 | Jul 2027 | $500.95 | $385.61 | $115.34 | $18,068.95 |
| 20 | Aug 2027 | $500.95 | $388.02 | $112.93 | $17,680.93 |
| 21 | Sep 2027 | $500.95 | $390.44 | $110.51 | $17,290.49 |
| 22 | Oct 2027 | $500.95 | $392.88 | $108.07 | $16,897.60 |
| 23 | Nov 2027 | $500.95 | $395.34 | $105.61 | $16,502.27 |
| 24 | Dec 2027 | $500.95 | $397.81 | $103.14 | $16,104.46 |
| 25 | Jan 2028 | $500.95 | $400.30 | $100.65 | $15,704.16 |
| 26 | Feb 2028 | $500.95 | $402.80 | $98.15 | $15,301.36 |
| 27 | Mar 2028 | $500.95 | $405.32 | $95.63 | $14,896.05 |
| 28 | Apr 2028 | $500.95 | $407.85 | $93.10 | $14,488.20 |
| 29 | May 2028 | $500.95 | $410.40 | $90.55 | $14,077.80 |
| 30 | Jun 2028 | $500.95 | $412.96 | $87.99 | $13,664.84 |
| 31 | Jul 2028 | $500.95 | $415.54 | $85.41 | $13,249.30 |
| 32 | Aug 2028 | $500.95 | $418.14 | $82.81 | $12,831.15 |
| 33 | Sep 2028 | $500.95 | $420.75 | $80.19 | $12,410.40 |
| 34 | Oct 2028 | $500.95 | $423.38 | $77.57 | $11,987.02 |
| 35 | Nov 2028 | $500.95 | $426.03 | $74.92 | $11,560.99 |
| 36 | Dec 2028 | $500.95 | $428.69 | $72.26 | $11,132.29 |
| 37 | Jan 2029 | $500.95 | $431.37 | $69.58 | $10,700.92 |
| 38 | Feb 2029 | $500.95 | $434.07 | $66.88 | $10,266.85 |
| 39 | Mar 2029 | $500.95 | $436.78 | $64.17 | $9,830.07 |
| 40 | Apr 2029 | $500.95 | $439.51 | $61.44 | $9,390.56 |
| 41 | May 2029 | $500.95 | $442.26 | $58.69 | $8,948.31 |
| 42 | Jun 2029 | $500.95 | $445.02 | $55.93 | $8,503.28 |
| 43 | Jul 2029 | $500.95 | $447.80 | $53.15 | $8,055.48 |
| 44 | Aug 2029 | $500.95 | $450.60 | $50.35 | $7,604.88 |
| 45 | Sep 2029 | $500.95 | $453.42 | $47.53 | $7,151.46 |
| 46 | Oct 2029 | $500.95 | $456.25 | $44.70 | $6,695.21 |
| 47 | Nov 2029 | $500.95 | $459.10 | $41.85 | $6,236.10 |
| 48 | Dec 2029 | $500.95 | $461.97 | $38.98 | $5,774.13 |
| 49 | Jan 2030 | $500.95 | $464.86 | $36.09 | $5,309.27 |
| 50 | Feb 2030 | $500.95 | $467.77 | $33.18 | $4,841.51 |
| 51 | Mar 2030 | $500.95 | $470.69 | $30.26 | $4,370.82 |
| 52 | Apr 2030 | $500.95 | $473.63 | $27.32 | $3,897.18 |
| 53 | May 2030 | $500.95 | $476.59 | $24.36 | $3,420.59 |
| 54 | Jun 2030 | $500.95 | $479.57 | $21.38 | $2,941.02 |
| 55 | Jul 2030 | $500.95 | $482.57 | $18.38 | $2,458.46 |
| 56 | Aug 2030 | $500.95 | $485.58 | $15.37 | $1,972.87 |
| 57 | Sep 2030 | $500.95 | $488.62 | $12.33 | $1,484.25 |
| 58 | Oct 2030 | $500.95 | $491.67 | $9.28 | $992.58 |
| 59 | Nov 2030 | $500.95 | $494.75 | $6.20 | $497.84 |
| 60 | Dec 2030 | $500.95 | $497.84 | $3.11 | $0.00 |
How to use it
- Enter loan amount, interest rate, and term.
- Optionally set a start date and extra monthly payment.
- Review monthly payment, total interest, and payoff date.
- Scroll the amortization schedule for month-by-month details.
Key formulas
- Monthly payment
- Payment = P × r × (1 + r)^n / ((1 + r)^n − 1), where r = APR/12 and n = months
FAQ
Fixed-rate loans use an amortization formula that spreads principal and interest over the term so the payment stays the same each month (unless you add extra payments).
An amortization schedule shows each payment over time, including how much goes to interest vs principal and what your remaining balance is after each payment.
Yes. Extra principal reduces the balance sooner, which reduces future interest and can shorten the payoff date.
Interest is calculated on the outstanding balance. Early on, the balance is highest, so more of each payment goes to interest.
With a 0% rate, the payment is simply principal divided by months (no interest).
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Disclaimer
Estimates only. Lenders may use different compounding conventions, rounding, and fee structures. Confirm details with your lender.