Loan Amortization Schedule Generator
Build a full payment-by-payment table of principal, interest, and remaining balance for equal-payment, equal-principal, or interest-only loans.
Enter your loan amount, interest rate, and term, and get a detailed month-by-month amortization schedule for any of the three common repayment structures: equal total payment (standard amortizing), equal principal (declining payment), or interest-only with a balloon payment at maturity. Each row breaks out how much of that payment goes to principal versus interest and what balance is left.
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How to use
- Enter the total loan principal and the annual interest rate (%).
- Enter the full loan term in months.
- Choose a repayment method — equal payment, equal principal, or interest-only with balloon — and review the month-by-month schedule generated below.
FAQ
- Which repayment method should I choose?
- Equal principal costs the least in total interest, but your early payments are the highest. Equal payment keeps every month identical, which is easier to budget around. Interest-only means small payments until you repay the entire principal at maturity — the most flexible cash flow, but by far the most total interest.
- Will these numbers match my bank statement exactly?
- Almost never to the penny. Most lenders accrue interest on a daily basis and adjust for leap years, weekends, and actual payment dates. This calculator uses a monthly approximation, so expect small rounding differences of a few dollars at most.
- If I make an extra principal payment partway through the loan, does the schedule update automatically?
- No. This calculator generates one fixed schedule for the entire term based on the principal, rate, and term you enter up front. If you actually make an early extra payment, you'll need to re-run the calculator with the remaining balance as the new principal and the remaining months as the new term to see how it changes the rest of the schedule.