Loan repayment schedule explained

Last updated: 2026-08-14

A repayment schedule walks a loan month by month. Each row shows how much interest is due, how much payment reaches principal, whether extra principal is applied, and what balance remains.

Why schedules matter

Two loans can have similar payments but different total costs. The schedule exposes how long the balance stays outstanding and how much interest builds over time.

Extra payments

Extra principal lowers the balance before later interest is calculated. That can shorten the payoff period and reduce total interest.

Use the calculator

Use the loan repayment calculator to generate a repayment schedule with optional extra monthly and one-time payments.