Loan Amortization Schedule Template

A loan statement tells you what you owe. It rarely tells you how much of each payment is interest, or what the loan will cost you in total. This template does both, for any fixed-rate loan, on any payment frequency.

Enter the amount, rate, term and frequency. The schedule builds itself — up to 360 payments — showing opening balance, payment, interest, principal and closing balance for every single period. The Summary sheet totals it up: what you pay, what the interest costs, and what proportion of the original loan that represents.

There is an optional extra-payment field. Put a figure in it and watch the schedule shorten and the total interest fall. Two reconciliation checks confirm the principal repaid matches the amount borrowed to the cent, so you can trust the totals.

What you get

• Full amortization schedule up to 360 payments
• Monthly, quarterly, half-yearly or annual frequencies
• Optional extra payment per period
• Total interest and total paid
• Final payment auto-trimmed so the balance closes at zero
• Two built-in reconciliation checks
• Handles a zero interest rate
• Configurable currency

Who it is for

Anyone with a business loan, mortgage, equipment finance or car loan who wants to see where the money actually goes, compare two offers, or model paying extra.

In the download

• Excel workbook with 4 sheets
• README with full usage guide
• Licence covering commercial and client use
• Worked sample loan, clearly labelled

Sheets in the workbook

• Instructions — How to use the file, colour key, assumptions and limitations.
• Inputs — Loan terms and the calculated payment.
• Schedule — Payment-by-payment breakdown, up to 360 payments.
• Summary — Total paid, total interest and reconciliation checks.

Requirements

• Microsoft Excel 2016 or later, or Microsoft 365
• Also opens in LibreOffice Calc, Google Sheets (import) and Apple Numbers
• No macros, no add-ins, no internet connection required

Please read

• Variable-rate loans are not modelled. Re-run at the new rate using the remaining balance and remaining term.
• Interest accrues per period on the reducing balance, not daily. Lenders using daily accrual will differ slightly.
• The schedule holds 360 payments — 30 years monthly.
• Your lender’s figure is the one that counts. Use this to understand and compare.
• Sample data is included and clearly labelled. It is illustrative only.
• This is a tool, not financial, accounting, tax or legal advice.