Amortisation calculator

An amortisation schedule is a detailed table or spreadsheet that outlines the systematic repayment of a loan over time. It provides a comprehensive breakdown of each loan payment, specifying how much of each payment goes toward reducing the principal amount and how much is allocated to cover interest expenses. 

The schedule outlines each installment payment into two primary components:

• • Principal payment: The portion of the payment that goes towards reducing the outstanding loan amount.
  • Interest payment: The amount allocated to cover the interest accrued on the remaining loan balance

Furthermore, the schedule displays the remaining balance of the loan at the beginning and end of each period. As the loan is repaid, the outstanding balance gradually decreases. Additionally, it provides transparency into the total cost of borrowing and can be a valuable tool for comparing different loan options.