Amortization Calculator
Calculate loan amortization schedules, monthly payments, total interest, and repayment timelines. Plan your debt repayment strategy with detailed payment breakdowns.
Step 1: Loan Details
5.5%
5 years
About Amortization
Amortization is the process of spreading out a loan into fixed payments over time. Early payments consist mostly of interest, while later payments apply more to the principal.
Step 2: Additional Parameters
Repayment Tips
Even small extra payments can significantly reduce total interest paid and shorten your loan term. Consider rounding up payments or making one extra payment per year.
Amortization Results
Summary
Payment Schedule
Loan Comparison
Monthly Payment
£478.07
For 60 months at 5.5% APR
Total Interest Paid
£3,684.20
Total Payment
£28,684.20
Payoff Date
Jan 2029
Interest/Principal Ratio
14.7%
Amortization Schedule
| Payment # | Date | Payment | Principal | Interest | Balance |
|---|
Total Principal
£25,000.00
Total Interest
£3,684.20
Total Paid
£28,684.20
Payoff Period
5 years
Loan Term Comparison
| Loan Term | Monthly Payment | Total Interest | Total Paid | Interest Saved |
|---|
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