Tools · Borrowing
Loan Amortization Calculator
Work out your monthly repayment, the total interest you'll pay, and a full amortization schedule — year by year or month by month. Free, and nothing is stored.
Assumes a fixed rate and equal monthly repayments (a reducing-balance loan). Interest is charged on the outstanding balance each month.
- Monthly payment
- KES 126,967
- Total paid
- KES 7,618,028
- Total interest
- KES 2,618,028
- Number of payments
- 60
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | KES 677,714 | KES 845,891 | KES 4,322,286 |
| 2 | KES 810,288 | KES 713,318 | KES 3,511,998 |
| 3 | KES 968,795 | KES 554,811 | KES 2,543,203 |
| 4 | KES 1,158,309 | KES 365,297 | KES 1,384,895 |
| 5 | KES 1,384,895 | KES 138,711 | KES 0 |
01How the numbers work
On a reducing-balance loan, your payment stays the same each month but its make-up shifts. Each month, interest is charged on the balance still owed; whatever is left of your payment reduces the principal.
Early on, the balance is high, so most of the payment is interest. As the principal falls, the interest portion shrinks and you clear the balance faster — which is exactly what the schedule below shows.
02Common questions
What is an amortization schedule?
It's a breakdown of every repayment over the life of a loan, showing how much of each payment goes to interest and how much to principal, and the balance that remains. This calculator gives you both a year-by-year and a month-by-month view.
How is the monthly payment worked out?
From the standard amortization formula for a reducing-balance loan: a fixed payment that covers the interest on the outstanding balance plus enough principal to clear the loan exactly by the end of the term.
Why is so much of an early payment interest?
Interest is charged on the balance still owed, which is largest at the start. As the balance falls, the interest portion of each payment shrinks and the principal portion grows — so you pay down the loan faster towards the end.
Does this include fees or insurance?
No — it shows principal and interest only. Lenders may add arrangement fees, insurance or other charges, so your actual instalment can be higher. Use this for the core repayment maths.
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