Work out your monthly payment, total interest, and full amortization schedule for any loan — in your own currency and language.
| Year | Principal Paid | Interest Paid | Balance |
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Figures are illustrative projections based on a constant annual return and do not account for taxes, fees, or market volatility. This tool does not constitute financial advice.
This calculator uses the standard reducing-balance (amortizing) method banks use for most loans: each monthly payment covers that month's interest first, with the remainder paying down your principal. Because your loan balance shrinks a little every month, the interest portion of each payment gets smaller over time while the principal portion grows — even though your total monthly payment stays the same.
You can also model an extra monthly payment to see exactly how much faster you'd be debt-free and how much interest you'd save by paying more than the minimum. All figures are illustrative estimates based on a fixed interest rate; they don't include origination fees, insurance, or taxes, and actual loan terms will vary by lender. This tool does not constitute financial advice.
An amortization schedule is a table showing each payment over the life of your loan, broken down into how much goes toward principal versus interest, plus your remaining balance after each payment.
Interest is calculated on your remaining balance each month. As you pay down principal, the balance shrinks, so the interest charged on it shrinks too — even though your total payment stays fixed.
Yes — extra payments go entirely toward principal, which reduces the balance interest is calculated on for every remaining month of the loan, often saving significant interest and shortening the payoff time by months or years.