Amortization Calculator
See the monthly payment, total interest, and payoff on any loan.
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About the Amortization Calculator
Amortization is how a fixed-rate loan is paid off — each equal monthly payment covers the interest due plus a bit of principal, and the principal share grows every month. Enter your loan amount, annual interest rate, and term in years to get the monthly payment, the total of all payments, and the total interest paid. It's the core math behind mortgages, auto loans, and personal loans, and a fast way to see how rate and term drive the true cost of borrowing.
How to use the Amortization Calculator
- 01Enter your loan amount, annual interest rate, and term in years.
- 02Read the result instantly — it recalculates as you type.
- 03Adjust the numbers to model different scenarios.
Frequently asked questions
What is loan amortization?
It's the process of paying off a loan with equal periodic payments — early payments are mostly interest, later ones mostly principal, until the balance reaches zero.
How do I lower total interest?
A shorter term or lower rate cuts total interest sharply. Even a small extra monthly payment reduces the principal faster — try the Mortgage Payoff Calculator to model it.
Is this the same as a mortgage calculator?
The math is identical. Use this for any fixed-rate loan; the Mortgage Calculator adds home price and down payment inputs.