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"This amortization schedule calculator lets you estimate your monthly loan or mortgage repayments in seconds. Enter your loan amount, interest rate, term and start date, click "Calculate", and you'll get your fixed monthly payment together with a complete payment schedule — showing exactly how much of every payment goes toward the principal and how much is eaten by interest."

"Because early payments on a long loan are mostly interest, seeing the full amortization schedule is the quickest way to understand the true cost of borrowing. The chart below the results shows your balance falling month by month, the crossover point where principal starts to outweigh interest, and the total interest you'll have paid by the end of the term. Use it for a mortgage, an auto loan, a student loan or any other fixed-rate loan."

"Prefer working in a spreadsheet? Download our free amortization schedule Excel template — the same math in a worksheet you can save, print and adapt to your own scenarios."

"Amortization is the process of paying off a loan with regular fixed payments over time. Each payment covers the interest accrued since the previous payment and reduces the outstanding balance by the remainder. As the balance shrinks, the interest portion of every payment gets smaller and the principal portion grows, until the loan is fully repaid at the end of the term."

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