WISEPRO TOOLBOX
Advanced Loan Amortization Calculator with Extra Payment Options
Back to Home| S.No | Month | Year | Payment | Interest | Principal | Balance |
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| Year | Total Payment | Total Interest | Total Principal | Ending Balance |
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This advanced loan amortization calculator by WISEPRO TOOLBOX helps you calculate your monthly and yearly repayment schedules with precision. It supports multiple currencies, extra payments, partial prepayments, and lump sum contributions. Perfect for mortgages, personal loans, car loans, and business financing.
What is amortization? Amortization is the process of spreading loan payments over time, including both principal and interest components.
Can I make extra payments? Yes, you can set extra monthly payments and lump sums to reduce the loan term and interest cost.
Which currencies are supported? This calculator supports major global currencies and auto-detects your local currency for convenience.
Does this work for mortgages? Absolutely. It's ideal for mortgage repayment planning.
How does an amortization schedule work? An amortization schedule shows each loan payment allocated between principal and interest. Early payments apply more to interest, while later payments apply more to principal.
What are the benefits of making extra payments? Extra payments reduce your principal balance faster, which decreases the total interest paid and can shorten your loan term significantly.
How often is interest calculated on amortized loans? Most loans use monthly compounding, where interest is calculated on the remaining balance each month.
Can I calculate amortization for different loan types? Yes, this calculator works for fixed-rate mortgages, auto loans, personal loans, and any other installment loan with a fixed interest rate.