Loan Amortization Calculator — Free Tool
See your full loan payoff plan free — monthly payment, total interest, payoff date, and a month-by-month amortization schedule.
Tool Interface
| # | Date | Payment | Principal | Interest | Balance |
|---|
How to use
- Enter the loan amount, annual interest rate, and term in years (plus extra months if needed).
- Optionally add an extra monthly payment to see how much interest and time it saves, and a start month for calendar dates.
- Press Calculate for your monthly payment, total interest, payoff date, and the full month-by-month amortization schedule with yearly subtotals.
The monthly payment uses the standard amortization formula M = P·r / (1 − (1+r)−n). Everything runs in your browser — no signup.
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About This Tool
Introduction
A loan amortization calculator shows you exactly where every dollar of your loan goes — and Trencada's free version lays it all out. Enter your loan amount, interest rate, and term to get your monthly payment (computed with the standard amortization formula), total interest, total of all payments, and payoff date. Add an extra monthly payment to see precisely how many months and dollars it saves you. Below the summary sits the complete month-by-month amortization schedule — payment, principal, interest, and remaining balance for every period, with yearly subtotals and optional calendar dates. Everything runs entirely in your browser with no signup.
How to Use
- Enter the loan amount, annual interest rate, and term in years (plus extra months if your term isn't a whole number of years).
- Optionally add an extra monthly payment to see the interest and time it saves, and a start month for real calendar dates in the schedule.
- Press Calculate for your monthly payment, total interest, payoff date, and the full scrollable amortization table with yearly subtotals.
- Press Reset to clear everything back to defaults.
Key Features
- Monthly payment via the standard formula M = P·r / (1 − (1+r)^−n)
- Total interest and total of all payments
- Payoff date (calendar dates when you set a start month)
- Extra-payment analysis: months saved and interest saved
- Complete month-by-month schedule: payment, principal, interest, balance
- Yearly subtotal rows every 12 months
- Scrollable schedule table that stays fast even for 30-year loans
- Fully responsive, works on mobile and desktop
Why Choose Trencada
Every Trencada tool is free forever with no hidden costs, no accounts, and no installation. The Loan Amortization Calculator runs 100% in your browser, so your financial details stay private — nothing is uploaded, stored, or tracked.
Frequently Asked Questions (FAQ)
- What is loan amortization? Amortization is the process of paying off a loan in fixed installments where each payment is split between interest and principal. Early payments are mostly interest; later ones are mostly principal — the schedule table shows this shift month by month.
- How much can extra payments really save? A lot. On a typical 30-year loan, even $100–$200 extra per month can shave years off the term and save tens of thousands in interest. Enter your numbers to see your exact savings.
- Does it handle adjustable rates or extra fees? No — it assumes a fixed interest rate and on-time payments, with no fees, taxes, or insurance included. It's an educational estimate, not a loan offer.
- Do I need to create an account? No. Like all Trencada tools, it works instantly with no signup or login.
- Is my data private? Yes. The tool runs entirely in your browser — no loan details leave your device.