Amortization Schedule Calculator
See the full month-by-month amortization schedule for any loan (payment, interest, principal and balance) with a downloadable CSV.
Written by Rahman · Last reviewed
Quick answer
On a $300,000 loan at 6.5% over 30 years the payment is $1,896.20, and the first month splits $1,625.00 of interest against $271.20 of principal, 86% of it interest. The crossover, where a payment finally puts more toward principal than interest, does not arrive until month 233, almost twenty years in. Interest is charged on the balance still owed, so the split shifts every month; a shorter term or a lower rate pulls that crossover much earlier.
- Interest1,625.00 (85.7%)
- Principal271.20 (14.3%)
- Total1,896.20
"Crossover" is the first month where more of the payment reduces the balance than goes to interest — it depends only on the rate and term, not on any extra payment entered above.
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | 3,353.18 | 19,401.27 | 296,646.82 |
| 2 | 3,577.74 | 19,176.70 | 293,069.08 |
| 3 | 3,817.35 | 18,937.10 | 289,251.73 |
| 4 | 4,073.01 | 18,681.44 | 285,178.72 |
| 5 | 4,345.79 | 18,408.66 | 280,832.93 |
| 6 | 4,636.83 | 18,117.62 | 276,196.10 |
| 7 | 4,947.37 | 17,807.08 | 271,248.73 |
| 8 | 5,278.70 | 17,475.75 | 265,970.03 |
| 9 | 5,632.23 | 17,122.22 | 260,337.81 |
| 10 | 6,009.43 | 16,745.02 | 254,328.38 |
| 11 | 6,411.89 | 16,342.56 | 247,916.49 |
| 12 | 6,841.31 | 15,913.14 | 241,075.18 |
| 13 | 7,299.48 | 15,454.97 | 233,775.70 |
| 14 | 7,788.34 | 14,966.11 | 225,987.36 |
| 15 | 8,309.94 | 14,444.51 | 217,677.42 |
| 16 | 8,866.47 | 13,887.98 | 208,810.95 |
| 17 | 9,460.28 | 13,294.17 | 199,350.68 |
| 18 | 10,093.85 | 12,660.60 | 189,256.83 |
| 19 | 10,769.85 | 11,984.60 | 178,486.98 |
| 20 | 11,491.13 | 11,263.32 | 166,995.85 |
| 21 | 12,260.71 | 10,493.74 | 154,735.14 |
| 22 | 13,081.83 | 9,672.62 | 141,653.30 |
| 23 | 13,957.95 | 8,796.50 | 127,695.36 |
| 24 | 14,892.74 | 7,861.71 | 112,802.62 |
| 25 | 15,890.13 | 6,864.32 | 96,912.49 |
| 26 | 16,954.32 | 5,800.13 | 79,958.16 |
| 27 | 18,089.79 | 4,664.66 | 61,868.38 |
| 28 | 19,301.29 | 3,453.16 | 42,567.08 |
| 29 | 20,593.94 | 2,160.51 | 21,973.15 |
| 30 | 21,973.15 | 781.30 | 0.00 |
Total interest over 30 years: 382,633.47. The CSV has one row per month.
Results are estimates for general guidance and are not financial, tax or legal advice. Except where a calculator names a currency, figures carry no currency of their own: put in pounds and you get pounds back, put in rupees and you get rupees. Figures depend on the assumptions you enter and on rates that change over time. Check current rates and speak to a qualified adviser before acting on them.
About the Amortization Schedule Calculator
An amortization schedule shows exactly how a fixed loan payment is split between interest and principal in every single month of the loan, from the first payment to the last.
This calculator builds that full schedule for any loan (mortgage, auto, personal or business) and lets you download every monthly row as a CSV, not just a yearly summary.
Interest(month) = balance × monthly rate Principal(month) = payment − Interest(month)
The payment itself is constant (the standard amortised-payment formula); only the interest/principal split changes each month as the balance falls.
Reading the crossover point
Every amortising loan has a "crossover" month: the first payment where the principal portion finally exceeds the interest portion. Before it, the loan is shrinking slowly and the lender is being paid mostly for the use of the money rather than repayment of it.
On a 30-year loan at 6.5%, crossover does not arrive until around year 19, roughly two-thirds of the way through the term. Shortening the term or lowering the rate pulls the crossover forward; on a 15-year loan at the same rate, it arrives in the first few years instead.
What a start date changes, and what it doesn't
This schedule is indexed by loan month (month 1, month 2, …), not by calendar month, because the interest and principal split depends only on the balance and the rate, not on which calendar month a payment happens to land in.
A start date does change how the schedule maps onto tax years or calendar years: a loan that starts in October has its first "loan year" split across two calendar years, so a lender's year-end interest statement for that first calendar year will show only 3 months of interest, not 12. That is useful to know so a partial first-year figure on a real statement isn't mistaken for an error.
Frequently Asked Questions
Why is my first payment mostly interest?
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Interest is charged on the outstanding balance, which is at its highest in month one. As the balance falls, less interest accrues each month and more of the fixed payment goes toward principal instead.
What does an extra monthly payment do to the schedule?
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It comes straight off the principal, which reduces every future month's interest charge and shortens the loan. The table above recalculates the full schedule when you add one.
Can I use this for a loan that already has a balance?
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Enter the current outstanding balance as the loan amount and the remaining term, not the original loan amount and original term, and the schedule will reflect where the loan actually is today.