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Amortization Calculator – Full Loan Payment Schedule

Amortisation is the process of paying off a loan through regular fixed payments, where each payment covers that period's interest first and the remainder reduces the principal. What surprises most borrowers is how heavily weighted early payments are toward interest — on a 30-year mortgage, the first few years of payments barely touch the principal balance.

This amortisation calculator generates a full payment-by-payment schedule for any instalment loan, showing the exact interest and principal split for every payment period, the running balance, and the total interest cost over the life of the loan.

How to use the Amortization Calculator

Enter the loan principal (total amount borrowed).

Enter the annual interest rate.

Enter the loan term in months or years.

Press Calculate to see the full amortisation table and summary totals.

Amortization Example: $300,000 Mortgage at 6.5% for 30 Years
Payment	Payment Amount	Interest	Principal	Balance
1	$1,896	$1,625	$271	$299,729
12	$1,896	$1,622	$274	$296,994
60	$1,896	$1,582	$314	$290,957
120	$1,896	$1,522	$374	$280,023
240	$1,896	$1,296	$600	$238,513
360	$1,896	$10	$1,886	$0

Amortization Calculator FAQ

Why do early payments go mostly to interest?

Because interest is calculated on the outstanding balance. When the balance is large (early in the loan), the interest charge is large. As principal reduces, each payment's interest portion shrinks and the principal portion grows.

What is a fully amortising loan?

A loan where regular equal payments completely pay off the balance by the final payment, leaving a $0 balance. Most mortgages and auto loans are fully amortising.

How does making extra principal payments affect amortisation?

Extra principal payments reduce the outstanding balance immediately, which lowers every future interest charge. This can cut years off the loan term and save significant total interest.

What is negative amortisation?

When loan payments don't cover the full interest due, unpaid interest gets added to the balance — the opposite of normal amortisation. Common in some adjustable-rate and interest-only loans.