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The remaining balance calculator calculates a loan's principal balance after a particular payment number. It is not the loan balance at the time a payment is due. This is an important distinction that you should understand. More below...»

Will making small, extra payments save me money?
Our Extra Payment Calculator will create an amortization table and show you the interest saved.
Will paying half the monthly payment every other week save interest charges?
Check out our Biweekly Loan Calculator to find out.
Enter a "0" (zero) for one unknown value above.

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The key to understanding the distinction is understanding accrued interest. On the day a payment is made, the amount due on the loan is the balance as shown on the amortization schedule. That's the remaining balance, and that's what this calculator is calculating. But, one day after the payment is paid, the balance is no longer the same as it was the day before. There is one day's interest due on the prior day's balance. This is the accrued interest. Interest will accrue each and every day until the next payment. Then, once again, when the payment is paid, the payment will go toward paying this accrued interest with the remainder being applied to principal and the balance due on the loan being the balance shown on the amortization schedule (plus or minus a small rounding adjustment).

If you want to know the loan pay off amount (balance), including the period's accrued interest, meaning the total balance on a day when a payment is due, then use the balloon payment calculator. A balloon payment is equal to the prior period's loan balance plus the accrued interest.

If you want to confirm a loan payoff amount for a repayment on any date including the impact of possible interest rate changes, late or missed payments and extra payments then use the Ultimate Financial Calculator and see this step-by-step tutorial:

  • Loan Payoff Calculation — Calculate Loan Balance
    • Enter payments for any amount on date made — audit balance due
    • Use the TVM calculator as an exact:
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  • A debt is a debt. A loan is a loan. And while some loans may have special provisions, the Ultimate Financial Calculator will calculate the loan repayment amount considering the payments actually made for any loan, regardless of what you call it.

    Remember, there are a lot of financial calculators on this site. If you can't find exactly what you need, just ask. Remaining balance and loan payoffs are critically important calculations and this site is here to help. Whether you hold the debt or are the borrower, "don't under collect, don't over pay".

    7 thoughts on “remaining-balance-calculator

    1. My salary loan balance

    2. Excellent Calculator. Thank you!!!!

    3. I carry at home mortgage loan where many pmts were paid late and a total of 14 pmts were missed on a 30 yr note, but we are in the 6th year and he is selling and needs a payoff what calculator can I use to figure the payoff

      Thanks in advance

    4. I have a judgment from a court, at 6% per annum. I expect the defendant will not be able to repay me regularly, but want to track what and when she does pay and be able to tell her at any given time how much she still owes. I have set up a spreadsheet to calculate the balance and interest per month. Is there a way to give her a more exact figure should she pay mid-month, for instance, without putting together a daily amortization schedule? Monthly is hard enough.

      • The Ultimate Financial Calculator on this site is designed to handle this exact situation. Users can enter payments made on any date and the calculator will track the balance. On that page, scroll down for tutorials. Review #1 to get an overview. Then read #25 for step-by-step instructions to meet your specific need.

        After looking at this calculator, and if you have a Windows computer, you may want to consider buying C-Value! (links on every page at the top). C-Value! will let you save your work so you can pickup from the last payment entered. The web calculator does not have the ability to save your entries.

    Comments, suggestions & questions welcomed...

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