Amortization Schedule — See Every Payment, Month by Month

An amortization schedule is a table that shows every payment over the life of a loan, split into how much goes to interest and how much pays down the balance, plus the balance left after each payment. It is the clearest way to see what a loan really costs and why paying early saves so much. Our tool builds a full schedule for any loan, in more than 70 currencies, and is part of our interest calculators.

How to use the amortization tool

Pick your country and currency, then keep the method on reducing balance.
Enter the loan amount, the interest rate, and the term in years.
Read the schedule: the monthly payment, and a year by year breakdown of interest, principal, and remaining balance.

What is an amortization schedule?

To amortize a loan means to pay it off in equal regular payments over time. The schedule is the table that maps this out. Your payment stays the same each month, but the split inside it changes: early on most of it is interest, and later most of it clears the principal. The schedule lets you see exactly where your money goes in any given month and how much you still owe.

How an amortization schedule is built

Each month the tool repeats three simple steps:

Interest = current balance × monthly rate.
Principal = your fixed payment − that interest.
New balance = old balance − the principal paid.

As the balance falls, the interest part of each payment falls too, so more of every payment goes to clearing the loan.

A sample schedule

Here is what the first month, and a few later points, look like for a 10,000 loan at 12% over 5 years. The fixed payment is about 222, and the total interest is about 3,347.

Amortization Table

Month	Payment	Interest	Principal	Balance left
1	about 222	about 100	about 122	about 9,878
12	about 222	about 86	about 137	about 8,447
30	about 222	about 59	about 163	about 5,741
60	about 222	about 2	about 220	about 0

Notice how the interest part shrinks from about 100 in month 1 to almost nothing by the end, while the principal part grows. That is amortization at work.

Why early payments are mostly interest

At the start the balance is large, so the interest charged on it is large, and only a little is left to reduce the principal. As the balance drops, the interest drops and the principal share grows. This front loading is exactly why extra payments early in a loan are so powerful: they cut the balance while it is still high, removing interest from every month that follows. See the saving with our loan prepayment calculator.

What you can use a schedule for

See the total interest you will pay over the whole loan.
Check your balance at any month, for example before selling or refinancing.
Plan extra payments and see how much time and interest they save.
Keep records for tax or accounting where interest paid matters.

Amortization, reducing balance, and flat rate

A normal amortization schedule assumes a reducing balance loan, where interest is charged on what you still owe. A flat rate loan works differently, charging interest on the original amount the whole time, so it does not amortize in the same way and usually costs more. Compare them with our reducing balance calculator and flat rate calculator, and check the true yearly cost with the effective interest rate calculator.

Loans around the world

Rates and terms differ by country, so always check current details with local lenders. See examples and currencies for your country:

Pakistan (PKR) · India (INR) · UAE (AED) · Saudi Arabia (SAR) · United Kingdom (GBP) · All countries

FAQ – Amortization Schedule

Frequently asked questions

What is an amortization schedule?

It is a table showing every payment over a loan, split into interest and principal, with the balance left after each payment. It shows exactly how a loan is paid off over time.

How is an amortization schedule calculated?

Each month, interest equals the current balance times the monthly rate. The rest of your fixed payment reduces the principal, and the balance falls. The next month repeats on the new, smaller balance.

Why are early payments mostly interest?

Early on the balance is large, so the interest charged on it is large and little is left to reduce the principal. As the balance falls, the interest falls and more of each payment clears the loan.

How do extra payments change the schedule?

An extra payment lowers the balance straight away, so less interest is charged in every later month. This can shorten the loan and cut the total interest, especially when done early.

Does a flat rate loan have an amortization schedule?

You can still list its payments, but a flat rate loan does not amortize in the normal sense because interest is fixed on the original amount rather than the falling balance. It usually costs more than a reducing balance loan.

Can I see a yearly schedule instead of monthly?

Yes. The tool shows a year by year breakdown, which is easier to scan, while still using the exact monthly math behind the scenes.

Built and maintained by Hira Fatima, BSc in Computer Science (BSCS)

Hira builds, tests, and maintains the calculators on loancalc.io and writes the guides that go with them.
How we calculate: Reducing balance uses the standard EMI formula; flat rate charges interest on the full original amount. | Last updated: June 2026

Disclaimer: This calculator gives estimates for planning only and is not financial advice. Your actual figures may differ due to fees, taxes, and lender policies. Confirm with your bank or lender before you borrow.