Loan Balance Calculator — Outstanding Principal
Find out exactly how much you still owe on a loan after any number of payments. Enter the original loan amount, annual rate, term, and how many monthly payments you have made to see the current outstanding balance, principal repaid, and interest paid to date.
%
months
months
Remaining principal owed after the payments made so far
- 1
Monthly interest rate
r = 6% ÷ 12 ÷ 100 = 0.005 - 2
Monthly payment
250,000 × 0.005 × 6.0226 ÷ (6.0226 − 1) = 1,498.88 - 3
Growth factor after n payments
(1 + 0.005)ⁿ = 1.196681How much the original principal has compounded after the payments made so far. - 4
Outstanding balance
250,000 × 1.1967 − 1,498.88 × (1.1967 − 1) ÷ 0.005 = 240,210.18
How does this calculator work?
Outstanding balance after n payments: B_n = P(1+r)^n − M[(1+r)^n − 1]/r, where P is the original principal, r the monthly rate, and M the fixed monthly payment. Enter original loan details and payments made to find what you still owe — and see how the balance declines over the full term.
Formula
How this is calculated
A standard amortising loan has a fixed monthly payment M calculated from the original principal P, the monthly interest rate r (annual rate ÷ 1200), and the total number of payments N: M = P·r·(1+r)^N / ((1+r)^N − 1). Each payment covers the interest accrued on the current balance and reduces the principal by the remainder.
The remaining balance after n payments follows from the amortisation formula: B_n = P(1+r)^n − M((1+r)^n − 1)/r. Early in the loan the balance falls slowly because most of each payment covers interest; later, as the balance shrinks, more of each payment goes to principal and the balance drops faster. This calculator works this out for you for any point in the loan term.
Assumptions: fixed interest rate, equal monthly payments, no prepayments or missed payments. For a zero-rate loan the balance simply decreases by P/N per payment.
Frequently asked questions
Interest is charged on the outstanding balance. Early in the loan the balance is high, so a large share of each payment covers interest and only a small portion reduces the principal. As the balance falls, the interest component shrinks and the principal portion grows — this is the essence of amortisation.
Yes. Enter the original loan details and the number of payments made, and the "Outstanding balance" is the amount you would need to repay to clear the loan today — before the next scheduled payment. Note that lenders may also charge a prepayment fee, which is not included here.
This calculator assumes equal regular monthly payments. If you have made extra or irregular payments, the actual balance will be lower than shown. Contact your lender for an exact payoff statement that reflects your actual payment history.
TG we-Calculate Editorial Team. (2026). Loan Balance Calculator — Outstanding Principal [Online calculator]. TG we-Calculate. https://we-calculate.com/calculator/loan-balance-calculator
TG we-Calculate Editorial Team. "Loan Balance Calculator — Outstanding Principal." TG we-Calculate. 2026. https://we-calculate.com/calculator/loan-balance-calculator.
TG we-Calculate Editorial Team, "Loan Balance Calculator — Outstanding Principal," TG we-Calculate, 2026. [Online]. Available: https://we-calculate.com/calculator/loan-balance-calculator
@misc{wecalculate_loan_balance_calculator, title = {Loan Balance Calculator — Outstanding Principal}, author = {{TG we-Calculate Editorial Team}}, howpublished = {\url{https://we-calculate.com/calculator/loan-balance-calculator}}, year = {2026}, note = {TG we-Calculate} }
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