AMORTIZATION CALCULATOR

Where does each payment go?

See every payment split into principal and interest, and what an extra amount does.

Loan amount ($)Rate (%)Term (years)

Extra toward principal each month ($)

#	Principal	Interest	Balance
1	$344.70	$156.25	$24,655.30
2	$346.85	$154.10	$24,308.45
3	$349.02	$151.93	$23,959.43
4	$351.20	$149.75	$23,608.22
5	$353.40	$147.55	$23,254.83
6	$355.61	$145.34	$22,899.22
7	$357.83	$143.12	$22,541.39
8	$360.07	$140.88	$22,181.33
9	$362.32	$138.63	$21,819.01
10	$364.58	$136.37	$21,454.43
11	$366.86	$134.09	$21,087.57
12	$369.15	$131.80	$20,718.42

EACH MONTH$500.9560 payments · $5,057 in interest

Paid offNov 2031

Total paid$30,057

First payment’s interest$156.25

Email me this schedule

The full schedule in your inbox, so you can check it against your statements.

The payment is fixed for the loan’s term at your rate.
Each month, interest is charged on what’s left; the rest of the payment goes to principal.
Early on most of it is interest. Near the end most of it is principal.
An extra amount goes straight to principal and shortens the loan.

A little extra in the first years skips the most interest, because that’s when the balance is biggest.

small extra, early. big difference.

In pinchd, every payment lands in the paycheck that pays it, and you tick it off as you go. No bank login, ever.

What is amortization?

Paying a loan off in equal payments over a set term. Each payment covers that month’s interest and pays down some of the balance.

Does an extra payment always go to principal?

Usually, but ask your lender to apply it to principal, not to next month’s payment.

How accurate is this?

It’s an estimate from the numbers you enter. Real statements and rates vary a little.

Is this calculator free?

Yes. No sign-up. It’s in the pinchd app too, where the answer fits into your actual paychecks.