Amortization Schedule Generator: Track Loan Repayment
Generate a detailed amortization schedule for any loan with our free calculator. See exactly how each payment reduces principal and interest.
Loan Summary
Loan Amount: $
Interest Rate: %
Loan Term: years
Monthly Payment: $
Extra Payment: $
Total Interest: $
Total Payments: $
Payoff Date:
With extra payments, you'll save:
$ in interest
off your loan term
Amortization Schedule
| Payment # | Date | Payment | Principal | Interest | Extra Payment | Balance |
|---|
Understanding Amortization Schedules
An amortization schedule is a complete table of periodic loan payments showing the amount of principal and interest that comprise each payment until the loan is paid off at the end of its term. Our calculator provides a powerful tool to help you understand exactly how your loan payments are applied and how much interest you'll pay over time.
Key Benefits of Our Amortization Calculator
- Complete Payment Breakdown - See exactly how each payment is split between principal and interest
- Extra Payment Analysis - Calculate how additional monthly payments can reduce your loan term and save interest
- Visual Payment Timeline - Track your remaining balance throughout the life of the loan
- Customizable Loan Terms - Works with any loan amount, interest rate, and term length
- Accurate Calculations - Precise monthly amortization accounting for compounding interest
Common Uses for an Amortization Schedule
Understanding your loan repayment structure is crucial for financial planning. Our tool is perfect for:
- Mortgage loan analysis and planning
- Auto loan and personal loan comparison
- Debt payoff strategy development
- Understanding the impact of extra payments
- Refinancing decision analysis
- Evaluating different loan term options
- Budgeting for future loan payments
- Tax planning for mortgage interest deductions
How to Use the Amortization Calculator
- Enter your total loan amount (principal)
- Input the annual interest rate as a percentage
- Specify the loan term in years
- Select your start date for the loan
- Optionally enter an additional monthly payment amount
- Click "Generate Amortization Schedule" to see your complete repayment plan
Try our free Amortization Schedule Generator today to gain valuable insights into your loan repayment and discover strategies to save on interest costs!