Use this free amortisation table calculator to estimate your regular loan payment, total interest cost, and full payoff schedule. It is useful for mortgages, auto loans, personal loans, and any fixed-rate debt where you make equal payments over time.
What is an amortisation table?
An amortisation table is a period-by-period breakdown of your loan repayment plan. Each line shows how much of your payment goes to interest, how much goes to principal, and what the remaining balance is after that payment.
At the start of most fixed-rate loans, interest is a larger portion of each payment because your outstanding balance is highest. Over time, the interest portion shrinks and the principal portion grows. The payment usually stays constant, but where that money goes changes every period.
How to use this amortisation table calculator
1) Enter the loan details
- Loan amount: The amount borrowed.
- Interest rate: Your annual nominal rate.
- Term: Number of years to repay.
- Payment frequency: Monthly, bi-weekly, weekly, quarterly, or annual.
2) Add optional extra payment
If you pay extra every period, the calculator reduces your balance faster and shortens your payoff timeline. You can quickly see how small additional payments may save significant interest.
3) Review your full schedule
After calculation, the table displays every payment from start to finish. This helps with budgeting, refinancing comparisons, and understanding the long-term cost of borrowing.
Amortisation formula (fixed-rate loan)
The standard payment is based on:
Payment = P × r / (1 - (1 + r)-n)
- P = principal (loan amount)
- r = periodic interest rate (annual rate ÷ payments per year)
- n = total number of payments (years × payments per year)
When the interest rate is 0%, payment is simply principal divided by number of payments.
Why an amortisation schedule matters
- Budgeting: You can forecast debt cash flow across years.
- Prepayment planning: See the impact of overpayments before committing.
- Refinancing decisions: Compare remaining interest under different rates and terms.
- Financial clarity: Understand how debt decreases over time.
Practical tips to pay off loans faster
Make consistent extra payments
Even modest recurring extras can reduce both total interest and payoff time.
Round up your payment
Rounding to the nearest convenient amount (for example, adding 25 or 50 each month) keeps the strategy simple and sustainable.
Avoid extending the term unnecessarily
Lower payments from a longer term may feel easier now, but often increase total borrowing cost significantly.
Frequently asked questions
Does this work for mortgages?
Yes. It works for standard fixed-rate mortgages and most fixed repayment loans.
Can I use it for bi-weekly payments?
Yes. Select bi-weekly in payment frequency to model 26 payments per year.
Will my final payment be different?
Sometimes yes. Due to rounding and payoff adjustments, the last payment can be slightly smaller.