Loan amortization calculator
Payments with fixed installments or constant principal.
How to useSimulate your loan.
| Month | Payment | Interest | Principal | Balance |
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Loan amortization calculator: what it is for
The loan calculator works out the payments on a personal loan, car loan or mortgage with fixed payments (equal installments) or constant principal (declining installments).
It shows the total paid, the total interest and the complete amortization schedule.
How to use
- Enter the loan amount, the annual interest rate (APR) and the term.
- Choose fixed payments or constant principal.
- See the payment, the total interest and the schedule.
When to use it
- Comparing lender offers.
- Car loans and mortgages.
- Understanding how much interest you pay.
Frequently asked questions
What is the difference between fixed payments and constant principal?
With fixed payments (standard amortization), the payment is the same from start to finish. With constant principal, payments start higher and go down over time, and the total interest paid is lower.
Does the simulation include insurance and fees?
No. Lenders add insurance, taxes and fees, so the real payment is usually a bit higher.
Is it really free?
Yes, 100% free. No sign-up, no subscription and no usage limits. All Tools123 tools are free and run right in your browser.