Calculator
Loan Amortization Calculator
A loan amortization calculator builds a month-by-month schedule that splits every payment into interest and principal. It also reports the fixed monthly payment and the total interest over the life of the loan.
Advertising disclosure: EmergencyLoaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.
- Runs in your browser
- No sign-up
- Free
Enter your numbers and press Calculate. Nothing you type leaves your browser.
How this calculator works
An amortization schedule splits every payment into interest and principal. Early payments are mostly interest; later payments are mostly principal.
For each month:
- Interest = current balance * r, where r = annual rate / 12 / 100.
- Principal = monthly payment - interest.
- New balance = current balance - principal.
The fixed monthly payment comes from M = P * r * (1 + r)^n / ((1 + r)^n - 1). The final payment is adjusted so the balance lands exactly on zero.
With a 0% rate, every payment is pure principal and the balance falls in equal steps.
How to use this calculator
Enter your numbers
Everything runs in your browser. Nothing you type is sent to us.
Read the result
The result shows the headline figure and the numbers behind it, so you can see where the cost comes from.
Check the rules before you apply
State caps and licensing decide what a lender may offer you. The state reference lists both with their sources.
Before you apply, run the numbers
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Advertising disclosure: EmergencyLoaning may receive a referral fee if you apply through the link above. That fee does not change the rate you are offered, and it does not change our content. We are not a lender. The lowest rates are only available to the most qualified applicants. Read the full disclosure.