See a loan’s full payment plan: how much you pay, how much interest and how much principal each year, plus the remaining balance — from amount, interest and term.
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Enter the amount, the annual interest and the term. The monthly payment and amortization schedule recalculate instantly.
Amortization schedule (per year)
| Year | Paid | Interest | Principal | Balance |
|---|---|---|---|---|
| 1 | 14,559 | 7,754 | 6,805 | 93,195 |
| 2 | 14,559 | 7,189 | 7,370 | 85,825 |
| 3 | 14,559 | 6,578 | 7,982 | 77,843 |
| 4 | 14,559 | 5,915 | 8,644 | 69,199 |
| 5 | 14,559 | 5,198 | 9,362 | 59,837 |
| 6 | 14,559 | 4,421 | 10,139 | 49,698 |
| 7 | 14,559 | 3,579 | 10,980 | 38,718 |
| 8 | 14,559 | 2,668 | 11,892 | 26,826 |
| 9 | 14,559 | 1,681 | 12,879 | 13,948 |
| 10 | 14,559 | 612 | 13,948 | 0 |
Amounts are aggregated per year. Early on you pay more interest, and toward the end more principal.
Indicative loan figures. The payment uses the annuity formula (fixed rate). The real interest and APR depend on the bank, on IRCC and on fees — the figures here are estimates. Instant in-browser calculation, no account.
The fixed monthly payment uses the annuity formula, from the loan amount, the monthly rate (annual ÷ 12) and the number of months:
For 100,000 over 10 years at 8%: the monthly payment is about 1,213, and in the first year you pay far more interest than principal — the ratio reverses toward the end.
It is the loan’s payment plan: a table that shows, for each period, how much of the payment is interest, how much is principal (the borrowed amount) and how much is left to pay (the balance).
On each row (here, per year) you see the total paid, the interest part, the principal part and the balance at the end of the period. Interest plus principal equals the payment made.
Because interest is charged monthly on the remaining balance, which is highest at the start. As the balance falls, the interest part shrinks and the principal part grows, though the payment stays constant.
The principal is the part of the payment that actually reduces the borrowed amount, and the interest is the cost of the loan for that month. Together they make the fixed monthly payment.
From the previous month’s balance you subtract the principal paid in the current month. At the end the balance reaches zero and the loan is fully repaid.
Yes. With a variable rate (index + margin), the payment and therefore the schedule recalculate each time the index changes. The calculator uses a fixed rate for the estimate.
It shows how much interest you pay in total and over time, helps you plan an early repayment and compare different terms to choose the best balance between payment and total cost.
It is the method with equal monthly payments (annuities), used by most banks. The alternative, linear amortization, has equal principal each month and decreasing payments, with slightly lower total interest.