Work out the monthly payment, total interest and full amortisation schedule for any loan from its amount, rate and term — with the first payments broken down. Runs entirely in your browser — your numbers never leave this device.
Principal $100,000.00 (46.3%) · Interest $115,838.45 (53.7%)
| Year | Paid | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $7,194.60 | $1,228.00 | $5,966.60 | $98,772.00 |
| 2 | $7,194.60 | $1,303.74 | $5,890.86 | $97,468.26 |
| 3 | $7,194.60 | $1,384.17 | $5,810.43 | $96,084.09 |
| 4 | $7,194.60 | $1,469.54 | $5,725.06 | $94,614.55 |
| 5 | $7,194.60 | $1,560.18 | $5,634.42 | $93,054.37 |
| 6 | $7,194.60 | $1,656.39 | $5,538.21 | $91,397.98 |
| 7 | $7,194.60 | $1,758.56 | $5,436.04 | $89,639.42 |
| 8 | $7,194.60 | $1,867.00 | $5,327.60 | $87,772.42 |
| 9 | $7,194.60 | $1,982.20 | $5,212.40 | $85,790.22 |
| 10 | $7,194.60 | $2,104.43 | $5,090.17 | $83,685.79 |
| 11 | $7,194.60 | $2,234.23 | $4,960.37 | $81,451.56 |
| 12 | $7,194.60 | $2,372.03 | $4,822.57 | $79,079.53 |
| 13 | $7,194.60 | $2,518.34 | $4,676.26 | $76,561.19 |
| 14 | $7,194.60 | $2,673.66 | $4,520.94 | $73,887.53 |
| 15 | $7,194.60 | $2,838.56 | $4,356.04 | $71,048.97 |
| 16 | $7,194.60 | $3,013.65 | $4,180.95 | $68,035.32 |
| 17 | $7,194.60 | $3,199.50 | $3,995.10 | $64,835.82 |
| 18 | $7,194.60 | $3,396.84 | $3,797.76 | $61,438.98 |
| 19 | $7,194.60 | $3,606.39 | $3,588.21 | $57,832.59 |
| 20 | $7,194.60 | $3,828.80 | $3,365.80 | $54,003.79 |
| 21 | $7,194.60 | $4,064.95 | $3,129.65 | $49,938.84 |
| 22 | $7,194.60 | $4,315.69 | $2,878.91 | $45,623.15 |
| 23 | $7,194.60 | $4,581.84 | $2,612.76 | $41,041.31 |
| 24 | $7,194.60 | $4,864.45 | $2,330.15 | $36,176.86 |
| 25 | $7,194.60 | $5,164.49 | $2,030.11 | $31,012.37 |
| 26 | $7,194.60 | $5,483.00 | $1,711.60 | $25,529.37 |
| 27 | $7,194.60 | $5,821.19 | $1,373.41 | $19,708.18 |
| 28 | $7,194.60 | $6,180.21 | $1,014.39 | $13,527.97 |
| 29 | $7,194.60 | $6,561.41 | $633.19 | $6,966.56 |
| 30 | $7,195.05 | $6,966.56 | $228.49 | $0.00 |
| Annual rate | 10 years | 20 years | 30 years |
|---|---|---|---|
| 3% | $96.56 | $55.46 | $42.16 |
| 5% | $106.07 | $66.00 | $53.68 |
| 7% | $116.11 | $77.53 | $66.53 |
| 9% | $126.68 | $89.97 | $80.46 |
A fixed-rate loan is repaid in equal monthly payments, but each payment is split differently. At the start almost all of it is interest, because interest is charged on the full balance; as the balance falls, the interest share shrinks and the principal share grows. This shifting split is the amortisation schedule, and the calculator prints it in full — month by month interest, principal and remaining balance — so you can see exactly where the money goes.
Enter the amount borrowed, the annual interest rate and the term. The calculator converts the annual rate to a monthly rate (annual rate divided by 1200), applies the payment formula, and then walks the schedule forward: interest on the current balance first, the rest of the payment against the principal, repeat until the balance reaches zero. The totals — sum of all payments and total interest — come from that schedule, not from a shortcut, so they match the month-by-month rows.
The result assumes a fixed rate, monthly payments made on time, and no fees, insurance or early-repayment charges. A lender's own quote can differ by a few cents per month because lenders round each month's interest to cents at slightly different steps and may add arrangement fees to the balance. If the rate is variable, the schedule is only accurate until the rate changes.
EMI stands for equated monthly instalment — the fixed monthly payment on a loan. It is the same number this calculator calls the monthly payment: one fixed amount that covers that month's interest plus a slice of principal, sized so the balance reaches exactly zero at the end of the term.
Interest each month is the current balance multiplied by the monthly rate, and the balance is at its largest at the start. On a $100,000 loan at 6%, the first payment of $599.55 contains $500.00 of interest and only $99.55 of principal. By the final years the balance is small, so the same $599.55 is almost all principal.
Yes, for the same amount and rate. Stretching a $10,000 loan at 5% from 10 years to 30 years cuts the payment from $106.07 to $53.68 a month, but you make 240 extra payments, so total interest rises steeply. The table on this page lets you compare the trade-off directly.
Lenders round each month's interest and principal to cents as they go, and some add fees or insurance premiums to the amount financed. The formula here assumes one clean loan with no extras, so expect agreement to within a few cents a month — if the difference is dollars, a fee or a different rate is usually the reason.
The payment is simply the amount divided by the number of months: $12,000 over 24 months is $500 a month with no interest at all. The general formula divides by the rate, which would be division by zero, so the calculator handles 0% as this special case.
No. The calculation runs entirely in your browser — the amount, rate and term you enter never leave your device, and there is no account, history or record of the figures once you close the page.
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