Loan Amortisation Schedule Generator
An amortisation schedule shows something a single monthly figure hides: at the start almost all of the payment is interest, and only near the end is it mostly capital. That is why overpaying in year one saves so much more than the same overpayment in year ten. This builds the whole schedule in whole pennies and checks that the final payment clears the balance to exactly zero.
What this generator does
Computes the level monthly payment from the annuity formula, then walks month by month charging interest on the outstanding balance and applying the rest to capital. The final payment is set to whatever clears the balance exactly.
How to use this tool
- Enter the amount borrowed, in pence.
- Enter the annual rate in tenths of a percent — 59 means 5.9%.
- Set the term in months.
- Read the table: watch the interest column shrink as the capital column grows.
Understanding the controls
- Amount borrowed
- In pence, because the whole calculation is done in whole pennies — floating-point pounds do not add up, and the point here is that these do.
- Annual rate
- In tenths of a percent, so 59 is 5.9%. The monthly rate is a twelfth of it, which is the convention lenders use.
- Term in months
- A longer term lowers the monthly payment and raises the total interest, often by more than people expect.
Common use cases
- Seeing how much of an early payment is interest rather than capital
- Producing a repayment schedule for a plan or a spreadsheet
- Comparing two terms by total interest rather than by monthly payment
- Teaching amortisation with a table that provably balances
- Checking a lender's schedule against an independent calculation
How this generator works
The level payment comes from the standard annuity formula and is rounded up to the penny, so rounding can never leave the balance short. Each month, interest is charged on what is still owed and the rest of the payment reduces the balance — which is why the split shifts steadily from interest to capital. The last payment is set to exactly clear the remaining balance rather than repeating the level figure. Before display the whole schedule is replayed: each month's interest is recomputed from its own opening balance, and the final balance must be exactly zero.
Randomness and fairness
Nothing here is random. Three figures determine the entire schedule. This is arithmetic for planning and teaching, not financial advice, and it knows nothing about your circumstances.
For how randomness is produced across the whole site, see how Generate Random works.
Limitations and good to know
- A fixed rate throughout, so a tracker or a fixed-then-variable deal needs the periods calculated separately.
- No fees, insurance or early repayment charges are included, and those often matter more than a small rate difference.
- Interest is charged monthly on the outstanding balance, which is the common convention but not universal — daily interest gives slightly different figures.
- Overpayments, payment holidays and arrears are not modelled.This is arithmetic for planning and teaching, not financial advice, and it knows nothing about your circumstances.
Privacy and your data
The schedule is computed in your browser. The amounts you enter are never transmitted, stored or included in analytics.
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