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Remaining Balance Calculator
with Amortisation & Payoff Timeline

Find out exactly how much you still owe on a loan after any number of payments. See principal paid, interest paid to date, and how extra payments change the remaining balance and payoff date.

Country
Currency
🏢
Remaining Balance Calculator
Loan Details
$
The original principal borrowed at the start of the loan.
%
Annual interest rate as a percentage. Enter 0 for interest-free loans.
mo
Total number of monthly payments for the full loan. E.g. 5 years = 60 months.
Payments Made
no.
How many regular monthly payments you have already made.
$
Any extra one-off payment applied directly to principal. Enter 0 if none.
Extra Monthly Payment (Optional)
$
Additional amount paid each month on top of the regular payment. Applied to principal.
📅
Used to calculate the estimated payoff date. Leave blank to skip.
Remaining Balance
—
after payments made
Monthly Payment
—
regular scheduled payment
Payments Remaining
—
months to go
Interest Paid to Date
—
total interest charged so far
Principal Paid to Date
—
equity built
Interest Still Owed
—
on remaining balance
Total Interest (Full Term)
—
if no extra payments
Interest Saved (Extra Payments)
—
vs minimum payments only
Loan Progress 0%
Full Calculation Breakdown
Original loan amount—
Annual interest rate—
Monthly interest rate—
Original term—
Regular monthly payment—
Payments made—
Principal paid to date—
Interest paid to date—
Extra lump sum applied—
Remaining balance—
Payments remaining—
Interest still owed (at min. payments)—
Interest saved via extra payments—
Estimated payoff date—
Remaining Balance at Key Points in the Loan
Payment No. Remaining Balance Principal Paid Interest Paid % Paid Off
Balance Over Time
Balance (min. payments)
Balance (with extra)
Interest paid
✦ Cal, AI Explanation
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Your remaining balance is ready. Ask me how extra payments reduce your balance, what the best strategy is for paying down this loan faster, or how to compare refinancing.

🏢 How remaining balance works

Early payments are mostly interest. The remaining balance falls slowly at first.
Extra payments go directly to principal, accelerating balance reduction significantly.
A small extra monthly payment early in a long loan can save thousands in interest.
The crossover point where more goes to principal than interest happens around the midpoint of most loans.
Refinancing may reduce the rate but resets the amortisation clock, often increasing total interest.

Related Calculators

Loan Repayment Calculator→ Monthly Payment Calculator→ Mortgage Payment Calculator→ Loan APR Calculator→ Debt Snowball Calculator→

Related Guides

How Loan Amortisation Works→ How to Pay Off Debt Faster→ Should I Refinance My Loan?→

How remaining balance is calculated

On a standard amortising loan, each monthly payment covers the interest accrued during that period and reduces the principal by the remainder. Because the interest is calculated on the outstanding balance, more of each early payment goes to interest and less to principal. As the balance falls, the interest portion shrinks and the principal portion grows.

The formulas

Monthly payment: M = P × [r(1+r)^n] / [(1+r)^n − 1]
Remaining balance after k payments: B = P(1+r)^k − M × [(1+r)^k − 1] / r
Interest paid to payment k: I = M × k − (P − B)
P = original principal. r = monthly interest rate (annual rate / 12). n = total payments. k = payments made. B = remaining balance.

Why extra payments have such a large effect

Any payment above the required minimum is applied directly to principal. Reducing the principal immediately reduces the interest charged in every subsequent period. A single extra payment early in the loan has an outsized effect because it removes principal that would otherwise have generated interest charges for many years ahead.

LoanRateTermAfter 12 paymentsAfter 24 paymentsAfter 36 payments
$25,0006.5%60 mo.$21,280$17,278$12,974
$100,0004.5%120 mo.$92,083$83,807$75,149
$300,0005.5%300 mo.$295,218$290,164$284,820

Frequently Asked Questions

Why does my remaining balance fall so slowly at the start?+
At the start of a loan, the outstanding balance is at its highest, so the interest charged each month is also at its highest. On a $25,000 loan at 6.5%, the first monthly interest charge is around $135. If the regular payment is $489, only $354 goes to principal in the first month. As the balance falls over time, the interest portion shrinks and more of each payment reduces principal, which is why the balance curve accelerates downward in the later stages of a loan.
How does an extra lump sum payment affect the remaining balance?+
A lump sum payment applied to principal reduces the balance by exactly that amount immediately. Every future monthly interest charge is then calculated on this lower balance, so the effect compounds over time. A $1,000 extra payment on a $25,000 loan at 6.5% with 48 months remaining saves roughly $130 in future interest and shortens the loan by about 2 months. The earlier in the loan you make the extra payment, the larger the saving.
Can I use this for a mortgage?+
Yes. This calculator works for any standard amortising loan including mortgages, car loans, personal loans, and student loans. Enter the original mortgage amount, the annual interest rate, the total term in months, and the number of payments already made. The remaining balance shown is the outstanding principal, which is the figure relevant for refinancing decisions, home equity calculations, and early repayment discussions with your lender.
Does refinancing reset the remaining balance calculation?+
Refinancing replaces your existing loan with a new one. The new loan principal is typically the current remaining balance on the old loan. The new loan starts its own amortisation schedule from scratch. Even if the new interest rate is lower, the early payments on the new loan will again be mostly interest, which means extending the term via refinancing often increases total interest paid over the life of the debt. Use this calculator to find your current remaining balance, then use the Loan Repayment Calculator with that figure as the new principal to model the refinancing scenario.
What is the difference between remaining balance and total amount still owed?+
The remaining balance is the outstanding principal only, the amount you would need to pay today to settle the debt in full. The total amount still owed over the remaining term includes both the remaining principal and all future interest charges that will accrue if you continue making only the scheduled payments. This calculator shows both figures: the current remaining balance is the primary result, and the interest still owed is shown separately to illustrate the full future cost of continuing with minimum payments.