How to Use the Loan Repayment Schedule Calculator
The equal-principal repayment method divides the loan principal evenly across all payment periods. Each month you pay the same principal amount, while interest decreases as the balance falls. This results in decreasing total monthly payments over time.
Enter your loan amount, annual interest rate, and term in months to generate a month-by-month repayment schedule showing principal, interest, total payment, and remaining balance for the first 12 months — plus total interest and overall repayment amount.
Frequently Asked Questions
Because each month you owe interest only on the remaining balance, and that balance shrinks as you repay principal. With equal principal payments, interest charges fall each month, reducing your total payment.
Standard US mortgages use equal-payment (standard amortization) rather than equal-principal repayment. Equal-principal is more common in some business loans and international markets. Both methods pay off the full loan by the end of the term.
Multiply the number of years by 12. For example, a 15-year loan = 180 months, a 30-year mortgage = 360 months, and a 5-year car loan = 60 months.