Work out the monthly payment, total interest, and
full amortisation for a personal, car, or home loan. See what happens when you
pay extra above the agreement — how much interest you save and how much sooner
you finish. Numbers update as you type, and your inputs are saved in this browser.
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Monthly payment
—
principal & interest
Total interest
—
over the loan
Total cost
—
principal + interest
Payoff
—
estimated date
Interest saved
—
from extra payments
Time saved
—
off the agreement term
Balance over time
Breakdown
Amortisation
Year
Paid
Principal
Interest
Extra
Balance
Interest so far
How this is worked out
Loan amount. Price (or stated amount) minus down payment. That is the principal that amortises.
Monthly payment. Standard fixed amortising payment from principal, APR ÷ 12, and term in months. Interest each month is balance × monthly rate; the rest of the payment reduces principal.
Extra payments. Extra each month and an optional one-time amount in month 1 go straight to principal (after covering that month’s interest). That shortens the schedule and cuts total interest — the agreement payment itself does not change.
Chart & table. Rose line = balance if you only pay the scheduled amount. Green line = balance with your extras. Switch the amortisation table between year summaries and every month.
Not included. Taxes/insurance escrow, points, origination fees, variable/ARM rates, negative amortisation, prepayment penalties, or credit approval. Treat figures as educational.
Educational tool, not lending, tax, or financial advice. Check anything that matters with a qualified adviser or your lender.
Important disclaimer
Picksmith provides information, analysis, opinions, and tools for general informational and educational purposes only. Nothing on Picksmith should be considered investment, financial, legal, tax, or other professional advice. Picksmith does not account for individual objectives, financial circumstances, risk tolerance, or personal needs. Past performance is not indicative of future results. Picksmith is not a registered broker-dealer, securities dealer, investment adviser, investment bank, or financial adviser.
