Loan Repayment Schedule Calculator - Monthly Payment Table & Payoff Date
A loan repayment schedule is a month-by-month table showing payment amount, interest, principal, and remaining balance until the loan is paid off. On a $20,000 loan at 8% for 5 years, the monthly payment is about $406 and total interest is roughly $4,332. This free calculator builds the full schedule, shows your payoff date, and models how extra principal payments reduce total interest.
Loan Details
Build a fixed-rate amortization schedule, table, and chart with optional extra principal.
Used to label the schedule and estimate the payoff date.
Optional extra monthly principal payment.
Formula: Payment = P x r(1 + r)^n / ((1 + r)^n - 1)
Amortization Schedule Results
Monthly payment, principal, interest, balance, payoff date, and interest saved.
Monthly Payment
$1,580.17
$318,861 total interest · paid off in 30 years
Annual Summary
Principal vs. Interest Chart
Annual bars show how each year shifts from interest-heavy payments toward principal payoff.
Monthly Amortization Schedule Table
Each row shows the payment date, scheduled payment, principal, interest, extra principal, and remaining balance.
| Month | Payment Date | Payment | Principal | Extra Principal | Interest | Balance |
|---|---|---|---|---|---|---|
| 1 | May 1, 2026 | $1,580.17 | $226.00 | $0.00 | $1,354.17 | $249,774.00 |
| 2 | Jun 1, 2026 | $1,580.17 | $227.23 | $0.00 | $1,352.94 | $249,546.77 |
| 3 | Jul 1, 2026 | $1,580.17 | $228.46 | $0.00 | $1,351.71 | $249,318.31 |
| 4 | Aug 1, 2026 | $1,580.17 | $229.70 | $0.00 | $1,350.47 | $249,088.61 |
| 5 | Sep 1, 2026 | $1,580.17 | $230.94 | $0.00 | $1,349.23 | $248,857.67 |
| 6 | Oct 1, 2026 | $1,580.17 | $232.19 | $0.00 | $1,347.98 | $248,625.48 |
| 7 | Nov 1, 2026 | $1,580.17 | $233.45 | $0.00 | $1,346.72 | $248,392.04 |
| 8 | Dec 1, 2026 | $1,580.17 | $234.71 | $0.00 | $1,345.46 | $248,157.32 |
| 9 | Jan 1, 2027 | $1,580.17 | $235.98 | $0.00 | $1,344.19 | $247,921.34 |
| 10 | Feb 1, 2027 | $1,580.17 | $237.26 | $0.00 | $1,342.91 | $247,684.07 |
| 11 | Mar 1, 2027 | $1,580.17 | $238.55 | $0.00 | $1,341.62 | $247,445.53 |
| 12 | Apr 1, 2027 | $1,580.17 | $239.84 | $0.00 | $1,340.33 | $247,205.69 |
Methodology and limitations
Last reviewed:
Methodology
Uses fixed-rate repayment math to show scheduled payment, interest, principal, remaining balance, payoff timing, and optional extra principal payments.
Limitations
Best for regular installment loans. It does not model variable rates, deferment, skipped payments, late fees, or lender-specific servicing rules.
Official sources
Loan Payment Schedule
A loan repayment schedule shows how the balance falls after each monthly payment. For fixed-rate loans, this is also called an amortization schedule.
What the payment table shows
Each row includes the month number, payment date, total payment, principal, interest, and remaining balance. This helps you see how much of each payment reduces debt and how much covers interest cost.
When to use this schedule
- Compare loan terms before borrowing
- Check the estimated balance at a future date
- Calculate how extra payments change the payoff date
- Export a payment table for spreadsheet review
If you want the math behind the table, review the loan amortization calculator .
Frequently Asked Questions
What is a loan repayment schedule?
A loan repayment schedule is a month-by-month table that lists every scheduled payment on a fixed-rate installment loan. Each row shows the payment amount, how much goes to interest, how much reduces principal, and the remaining balance after that payment. Unlike a single monthly payment quote, a full schedule helps you see when the loan will be paid off, how interest declines over time, and how much total interest you will pay. Export the table to CSV for budgeting or to compare payoff strategies.
Is a loan repayment schedule the same as an amortization schedule?
For fixed-rate installment loans, yes - the terms are often used interchangeably. Both show the payment-by-payment split between principal, interest, and remaining balance over the full loan term. Early payments are mostly interest; later payments apply more to principal as the balance shrinks. If your loan has a variable rate, interest-only period, or balloon payment, the schedule may differ from a standard amortization table and should be confirmed with your lender.
Can I add extra payments to the schedule?
Yes. Enter an optional extra monthly principal payment to see how additional payments reduce total interest and shorten the payoff timeline. Extra payments applied directly to principal lower the balance faster, which means less interest accrues in future months. Even a modest extra amount - such as $50 or $100 per month - can save thousands in interest on a long-term loan. The updated schedule shows your new payoff date and revised interest total.
What loans can use this repayment schedule calculator?
Use it for fixed-rate loans with regular monthly payments, including personal loans, auto loans, student loans, mortgages, and other standard installment debt. Enter the loan amount, annual percentage rate (APR), and term in months to generate the full payment table. It is not designed for revolving credit lines, variable-rate loans, interest-only mortgages, or loans with irregular payment schedules.
How do I read a loan repayment schedule?
Start with the first row: your monthly payment stays fixed, but the interest portion is highest early on because it is calculated on the full balance. Each month, the principal portion grows slightly as the balance drops. Scan the final rows to find your payoff date and confirm the ending balance reaches zero. Compare the total interest column against the original loan amount to see the true cost of borrowing over the full term.