An amortization schedule shows where each payment goes. Early payments usually include more interest; later payments usually include more principal. Seeing that split can make the cost of a longer term or a higher APR easier to understand.
Enter a loan amount, APR, and term to get an estimated monthly payment, total interest, a chart, and a payment-by-payment table. You can also add an extra amount toward principal each month.
How to use this calculator
- Enter the amount you would borrow, the APR, and the term in months (for example, 36 or 60).
- Optionally add an extra monthly amount to see how that changes the payoff date and total interest.
- Read the schedule from the top: interest is usually larger at first, then shrinks as the balance falls.
Results
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Results are estimates for education only. They are not financial, legal or credit-repair advice, and they are not an offer or a decision from any lender. We do not promise credit-score increases, item removals, or loan or card approvals. Actual rates, payments and qualification depend on the lender, the loan and your full application. See our Financial Disclaimer.