Loan Calculator — Payments and Schedule

Monthly payment, total interest and a full amortization schedule with CSV download

Runs in your browser · nothing is uploaded

Repayment method

The same total payment every month (principal plus interest). Early payments are mostly interest.

Loan amount

Annual interest rate

Loan term

Interest-only period (optional)

months

Pay only interest for the first months, then repay principal over the rest of the term. Blank means 0. Not used for interest-only loans.

Repayment summary

Enter an amount, a rate and a term to see the monthly payment and the full schedule.

For reference only. Monthly interest is rounded to the nearest cent and the last payment absorbs any rounding difference, so the principal repaid adds up to exactly the amount borrowed. Prepayment fees, variable rates, day-count conventions, fees and lender-specific rounding are not included. Check your loan agreement for the real figures. Amounts are shown without a currency symbol.

What it is

A loan calculator for mortgages, car loans, student loans or personal loans. Enter the amount borrowed, the annual interest rate and the term, choose how the loan is repaid, and it shows the first payment, the average monthly payment, the total interest and the total repaid. Below the summary is the full schedule with payment, principal, interest and remaining balance for every month, which you can download as a CSV file that opens correctly in Excel. Amounts have no currency symbol, so it works with any currency that uses two decimals. Everything is calculated in your browser.

How to use

Pick amortizing, equal principal or interest-only.
Enter the loan amount and the annual interest rate, then the term in years or months.
If the loan starts with an interest-only period, enter the number of months (optional).
Read the summary, then page through the schedule 12 payments at a time.
Choose Download CSV to keep the table. The file is saved as UTF-8 with a byte order mark.

How it works

Amortizing: payment = principal × r ÷ (1 − (1 + r)^−n), where r is the annual rate divided by 12 and n is the number of months. Interest is charged on the remaining balance each month and the rest of the payment repays principal.
Equal principal: principal each month = amount ÷ months; interest = remaining balance × annual rate ÷ 12.
Interest-only: the monthly interest is paid every month and the whole principal is repaid in the last month.
Rounding: interest is rounded to the nearest cent each month and the last payment absorbs the remainder.
The rate is assumed fixed, and fees and taxes are excluded.

Examples

Loan	Result
100,000.00 at 4% for 30 years, amortizing	477.42 a month; the first month has 333.33 of interest
1,200.00 at 6% for 12 months, equal principal	first payment 106.00, last 100.50, total interest 39.00
10,000.00 at 3.6% for 12 months, interest-only	30.00 a month, total interest 360.00

For reference only — check your loan agreement for the actual payments.

FAQ

What is the difference between amortizing and equal-principal loans?

An amortizing loan keeps the total payment the same every month, so early payments are mostly interest. An equal-principal loan repays the same principal each month, so payments start higher and fall as the balance shrinks. With the same rate and term, equal principal costs less interest overall.

How does an interest-only loan work here?

You pay only the monthly interest, which is the balance times the annual rate divided by 12, and the whole principal is due with the last payment. Monthly cost is the lowest, but you need the full amount at the end and total interest is the highest.

What does the interest-only period do?

It is a stretch at the start of the loan where you pay only interest. After it ends, the principal is repaid over the remaining months, so later payments are higher than they would be with no such period.

Why might my lender’s figure differ by a few cents?

This calculator rounds each month’s interest to the nearest cent and lets the last payment absorb the leftover difference so the principal repaid adds up exactly. Lenders can use day counts, truncation or a different payment date, which changes the cents.

Are variable rates or fees included?

No. The rate you enter is assumed to stay the same for the whole term, and origination fees, prepayment penalties, insurance and taxes are not included.