The tableau d'amortissement is the repayment schedule attached to a French fixed-rate loan offer. For each instalment it shows the interest, the capital repaid, usually the insurance, and the capital still owed. Early instalments carry the most interest and later ones the most capital, so the balance falls slowly at first. The capital still owed at any date is the figure used for early repayment, a sale or a remortgage.
What the schedule is
The tableau d'amortissement (amortisation schedule) must be included in every fixed-rate loan offer. It lists every instalment from the first to the last, with the share that pays interest and the share that repays capital. Keep it with the offer: you will need it again if you repay early, sell or remortgage.
On an off-plan purchase, the first lines may show interest only, during a deferred repayment period while the building goes up. A variable-rate offer also includes a simulation of how rate changes would affect the repayments, the term and the total cost.
How to read the columns
- Échéance: the instalment number and date.
- Montant de l'échéance: the monthly payment. On a fixed-rate loan it stays the same throughout.
- Intérêts: the interest for the month, worked out on the capital still owed.
- Capital amorti: the part of the payment that reduces the debt.
- Assurance: the insurance premium, usually on its own line.
- Capital restant dû: the capital still owed after the payment.
Column names vary from bank to bank, but the logic is always the same: interest plus capital equals the instalment.
Worked example: €300,000 over 20 years at 3.60%
Assumptions: a fixed 3.60% with monthly payments, and insurance at 0.30% a year of the amount borrowed. The instalment is €1,755.33 a month, plus €75 of insurance.
| Instalment | Interest | Capital | Still owed |
|---|---|---|---|
| 1 | €900.00 | €855.33 | €299,144.67 |
| 60, year 5 | €734.65 | €1,020.68 | €243,863.03 |
| 120, year 10 | €533.68 | €1,221.65 | €176,672.99 |
| 180, year 15 | €293.15 | €1,462.19 | €96,253.58 |
| 240, year 20 | €5.25 | €1,750.08 | €0 |
The first interest line is simply €300,000 × 3.60% ÷ 12 = €900. After 10 years, half the term, you have paid €87,313 of the €121,280 total interest, about 72%, but repaid only €123,327 of the capital, or 41%. The balance falls below half the original loan only after instalment 142, nearly 12 years in.
The insurance line
If your insurance is charged on the amount borrowed, as many bank group policies are, the insurance line is the same every month: €75 in the example, or €18,000 over 20 years. If it is charged on the capital remaining, the line falls month by month with the balance. Either way, the premium sits outside the interest and capital columns and does not reduce what you owe. The schedule makes the difference between policies visible, which helps when you compare the bank's policy with external cover.
What the schedule means for early repayment
The capital still owed on the date you repay is the figure the bank works from. Early repayment charges are capped at six months' interest on the amount repaid and at 3% of the capital still owed, so the schedule tells you the maximum in advance.
Because interest is front-loaded, repaying early saves most in the first years. In the example, the interest still to come is €47,762 after year 8 but only €9,066 after year 15. A partial repayment leads to a new schedule, with either the same instalment over a shorter term or a lower instalment over the same term. The rules are on the page on early repayment charges.
Next step
Use the calculator to see the capital outstanding and interest paid year by year on your own loan. When you are ready to apply, start with the eligibility check, and the broker we introduce you to will go through the schedule in your offer with you.
Questions
What is a tableau d'amortissement?
It is the repayment schedule attached to a French fixed-rate loan offer, showing for each instalment the interest, the capital repaid, the insurance and the capital still owed.
Why do I pay so much interest at the start of a French mortgage?
Interest is worked out on the capital still owed, which is highest at the start. As the balance falls, more of each payment goes to capital.
Does the tableau d'amortissement include insurance?
It usually shows the insurance premium on a separate line. Policies charged on the amount borrowed show the same premium every month.
Where do I find the capital remaining on my French loan?
In the capital restant dû column, on the line for the relevant instalment. Before an early repayment, ask the bank for its figures in writing, which it must provide free of charge on loans signed since July 2016.