Loan Amortization Schedule
See exactly how each loan payment is divided between principal and interest over the life of the loan. Enter your loan details to generate a complete month-by-month table with year-by-year summaries and a downloadable CSV.
This calculator provides estimates for general informational purposes only and does not constitute financial advice. Consult a qualified financial professional before making any financial decisions.
How It Works
Amortization describes the process of paying off a loan through scheduled, fixed payments. While each payment is the same amount, the split between principal and interest shifts every month.
The monthly payment (EMI) is: EMI = P × r(1+r)^n / ((1+r)^n − 1)
In each period:
Interest due = current balance × monthly rate
Principal paid = EMI − interest due
New balance = previous balance − principal paid
Worked example: $200,000 loan at 5% for 20 years (240 months).
Monthly rate r = 5/12/100 = 0.004167
EMI = 200,000 × 0.004167 × (1.004167)^240 / ((1.004167)^240 − 1) ≈ $1,319.91
Month 1: Interest = $200,000 × 0.004167 = $833.33; Principal = $1,319.91 − $833.33 = $486.58; Balance = $199,513.42
Month 2: Interest = $199,513.42 × 0.004167 = $831.31; Principal = $488.60; Balance = $199,024.82
By month 120 (halfway), the balance is about $113,000 and each payment is roughly 53% principal. The crossover point where principal exceeds interest occurs around month 109 in this example.
Total paid = $1,319.91 × 240 = $316,778; Total interest = $116,778 (58.4% of the original loan).
Frequently Asked Questions
Why does my first payment have so little principal?
In the early months, the outstanding balance is at its highest, so interest accrues quickly. On a 30-year mortgage at 6.5%, about 86% of your first payment is interest. As the balance falls month by month, more of each payment chips away at principal.
What is the amortization crossover point?
The crossover point is the month when more than half of your payment goes to principal rather than interest. On a 30-year loan at typical rates this happens around year 17–19. On a 15-year loan it happens much sooner — around year 8–10.
How do I use this to plan an early payoff?
Find the row in the table corresponding to the month you want to pay off the loan. The "Balance" column shows exactly how much you would need to pay to eliminate the debt. Subtract that from the total interest column to see the interest you would save.
Can I download the amortization table?
Yes — click the "Download CSV" button to export the full schedule as a spreadsheet-compatible file. You can then import it into Excel or Google Sheets for further analysis.
Do extra payments change the schedule?
Yes, extra payments reduce the principal faster, which means subsequent rows would have lower balances and less interest. This calculator shows the standard schedule. Use the Mortgage Calculator with extra payment to model how prepayments shorten your loan.