Amortization Schedule Generator
Turn a loan amount, an annual interest rate and a term in years into a month-by-month repayment table, showing how each fixed payment splits between interest and principal and how the outstanding balance falls.
Important: Not Financial Advice
This page performs arithmetic on the figures you enter. It is not financial, investment, tax or credit advice, and it does not take your full circumstances into account. Rates, fees, products and rules differ by lender and jurisdiction and change over time. Treat the result as a starting estimate and confirm the actual terms with the provider or a qualified adviser before making a decision.
The Fixed Payment and Its Splits
The schedule is built from the standard level-payment formula. A single monthly figure is calculated once, then repeated for every row; what changes is how that figure divides between interest and principal as the balance declines.
- The monthly rate is the annual rate divided by twelve, and the number of periods is the term in years multiplied by twelve. A thirty-year loan is 360 rows.
- Each month, interest is the current balance multiplied by the monthly rate. Principal is the fixed payment minus that interest, and the new balance is what remains after the principal is subtracted.
- Early rows are dominated by interest and late rows by principal. On a long loan the crossover point, where principal overtakes interest, does not arrive until well past the halfway mark.
- The balance is floored at zero, so the final row cannot display a small negative number left over from floating-point rounding.
- If the amount, the rate or the term is zero or blank, the page clears the result rather than showing an error; there is simply no schedule to draw.
Producing a Schedule
- Enter the principal in the loan amount field. The default is 200000, which reads as a two-hundred-thousand loan.
- Enter the annual interest rate as a plain number, so 6.5 means six and a half percent. The rate is divided by twelve internally, not by the number of payments you choose.
- Enter the term in years. Fifteen, twenty and thirty are the common choices, and each simply multiplies by twelve.
- The table refreshes as soon as you change any of the three fields, and the page also draws the schedule once on load, so the default loan is already displayed before you touch anything. There is no button to press.
- Read down the balance column to see how slowly the loan reduces at first, and compare the interest column at the top and bottom to see the shift in the payment split.
A Two-Hundred-Thousand Loan at 6.5 Percent
With the default inputs of 200000 borrowed at 6.5 percent a year over thirty years, the tool computes the following.
- The fixed monthly payment is 1264.14, repeated for all 360 rows.
- Month one: interest is 1083.33, principal is only 180.80, and the balance edges down to 199819.20. Almost the entire first payment is interest.
- By month 360: interest has fallen to 6.81, principal has risen to 1257.33, and the balance reaches 0.00.
- Across the full term the payments total about 455,090, which is roughly 255,089 more than was borrowed. That extra figure is the total interest, and it is what makes the shape of the schedule matter.
- Setting the rate to zero clears the table entirely rather than returning a straight division, because the formula needs a non-zero rate and a zero rate is treated as an empty case.
Reading a Loan Beyond the Monthly Figure
| Alternative | Notes |
|---|
| Total interest | Summing the interest column gives the true cost of borrowing. It is the number that moves most when the term changes, and it is easy to underestimate from the monthly payment alone. |
| Balance over time | The balance column shows how much equity a payment really builds. In the early years the answer is very little, which is why selling soon after borrowing can leave a shortfall. |
| Early versus late payments | Comparing the split at month one and month 360 makes the interest-first structure concrete. It also explains why extra payments made early save far more than the same amount paid late. |
| Term length as a lever | A shorter term raises the monthly figure but cuts total interest; a longer term does the reverse. There is no single best answer, because it trades monthly cash flow against lifetime cost. |
Computed in the Browser
The schedule is generated by local arithmetic, and the loan figures are never sent to a server.
- All 360 rows are calculated in the page itself. There is no request to a rate service or a loan database.
- Nothing you type is uploaded, and there is no account or submit step. The fields feed the table directly.
- The page keeps working offline once it has loaded, since the formula needs nothing but the three numbers.
- Only your theme preference is retained between visits, held in the browser's local storage.
- Because the inputs are not saved, a schedule you want to keep should be copied or exported before you close the tab.
Amortization Questions
Does the page show a schedule before I change anything?
Yes. The page runs its calculation once when it loads, so the default 200000 at 6.5 percent over thirty years is drawn as a full 360-row table straight away. Editing any of the three fields redraws it in place; there is no calculate button and no need to nudge a field to get the first result.
What happens if I enter zero for something?
The result panel is cleared. A zero loan amount, a zero rate or a zero term each make the level-payment formula unusable, so the page treats any of them as an empty case instead of printing an error or an infinity. Set all three to sensible non-zero values to get a schedule back.
Is the last payment exactly the same as the others?
In this model, yes. The payment is fixed for every row and the balance simply reaches zero on the final one because the numbers are constructed that way. Real lenders sometimes adjust the last instalment by a cent or two to clear the balance exactly, which this simplified schedule does not do.
Can I use this for a variable-rate loan?
Not directly. The formula assumes one interest rate for the whole term, so a rate that changes partway through would need a fresh schedule from the point of change. You can approximate it by generating one schedule up to the change, then a second schedule for the new rate starting from the remaining balance.
Last verified: October 7, 2026
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Maintained by Huang Bin · Last updated October 3, 2026