Overview

CALCULATE THE AMORTIZATION SCHEDULE OF A MORTGAGE OR CONSUMER LOAN, EITHER AT FIXED OR VARIABLE INTEREST RATE OR BOTH (most online calculators only accept fixed interest rates with standard monthly repayments)

This calculator will compute a mortgage or an amortised loan's periodic payment amount at the defined payment intervals, based on the principal amount borrowed, the term's length and the annual interest rate (fixed or variable), generating an amortisation schedule for the full term, also in chart form.

An amortization schedule is a complete table of periodic payments, showing the amount of principal and the amount of interest that comprise each payment until the loan is paid-off at the end of its term. While each periodic payment is the same amount, early in the schedule the majority of each payment is what is owed in terms of interest, while later in the schedule the majority relates to the loan's principal. Thus, the shorter the term of the loan, the lower the interest paid.

The model requires the following data inputs:

• Loan amount
• Interest rate type (fixed, variable, mixed)
• Interest rate
• Term (number of years)
• Installments frequency (monthly, quarterly, semi-annual, annual)
• Date of first installment

Based on the above, the following information will be automatically generated:

• Amount of periodic payment (principal plus interest)
• Total payments (principal plus interests) at due date
• Total interest payment at due date
• Residual balance to date (principal)
• Principal repaid to date
• Interest paid to date
• Interest paid in the current year (for tax deduction purposes)
• full amortisation schedule

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