Amortization Calculator
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Understanding Amortization
Understanding how your loan payments impact the balance of your loan means taking the time to understand the concept of amortization – how your total loan payment will be allocated between principal & interest over the life of the loan.
The amount of an installment loan payment typically remains fixed for the duration of the loan. What changes, however, is the amount of a given payment that goes to principal and interest. As the loan progresses, the amount of your payment that is allocated towards your principal balance should increase, which, in turn, reduces the total amount owed.
We’ve constructed an easy-to-use amortization calculator to help show you how your payments will be broken down between principal and interest over the lifespan of your loan. You’ll see how changes in principal and interest impact your loan over time.
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Amortization Schedule
See how each payment splits between principal and interest, and how your balance falls over the life of the loan. The schedule updates as you change the values above.
How To Use Our Amortization Calculator
Use the amortization calculator below to determine the periodic payment due on a loan and see how your payments impact your overall loan balance over time.
Since the amortization repayment model factors both interest and principal fluctuations throughout the life of the loan, the calculator will show the amount of each payment that will go towards interest and the amount that will go towards the principal.
Once you enter the terms of your loan, the calculator will provide an amortization schedule showing a fixed amount of each payment, and changes to both the interest and principal amounts of your loan.
General Info & Benefits
Everything you need to know about how amortization works and why it matters for your financial health.
Amortization Explained
Amortization Schedule
Benefits of Amortization
The "Negative"
Using CreditNinja's Calculator
Using CreditNinja’s amortization calculator will provide insight into the elements making up your loan payments, so you have the information needed to consider how much you pay in interest. CreditNinja’s amortization calculator is easy to use and will help you to make an informed financial decision. Please also visit our Debt Repayment Calculator and Simple Loan Calculator for more helpful tools.