Loan Amortization Calculator
Exact-day interest calculation with variable rates & early prepayments.
Interest Rate Changes
Scheduled Rate Changes:
Extra Principal Prepayments
Scheduled Extra Payments:
Loan Summary
Initial Base Payment
Total Principal Paid
Total Interest Paid
Total Tax / VAT Paid
Total Insurance Paid
Grand Total Paid
Detailed Amortization Schedule
| # | Payment Date | Days | Beginning Balance | Interest | Tax / VAT | Principal | Insurance | Extra Payment | Total Payment | Ending Balance |
|---|
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Frequently Asked Questions
When you make an extra principal prepayment, choosing Reduce Loan Term keeps your regular monthly payment the same so the loan pays off months or years earlier—maximizing total interest savings. Choosing Reduce Monthly Payment keeps your current payoff date and lowers your required monthly installment, freeing up monthly cashflow.
Standard 30/360 calculators assume every month has 30 days. Banks that use exact-day (Actual/365) interest charge based on the real number of days elapsed between payment dates (28, 29, 30, or 31 days). Whenever a rate change or extra payment happens mid-period, this calculator splits the period into exact day segments so interest stops accruing on prepaid principal immediately on that date.
Paying off debt delivers a guaranteed, risk-free return equal to your loan's interest rate (plus any interest tax saved). Investing can come out ahead if your expected after-tax return is higher than the loan rate. Use our Pay Off Debt vs. Invest Calculator to compare both options side by side.