Luckily, amortizing a loan is much easier with an amortization schedule Excel template. As a result, you can budget for that monthly payment more easily and reduce the risk of default.īut this isn’t something you can calculate in your head. Loan amortization schedules help you turn a long-term loan into a predictable monthly payment. This is where a template comes in.ĭownload Excel template Why use an Excel amortization schedule template? Thus, each successive payment consists of more principal than the last.Ī finished Excel amortization schedule lays out payments for each month in a spreadsheet format and includes how much of each payment consists of principal vs.

As you reduce the principal balance, less interest is charged per payment. When amortizing a loan, your first loan payment consists mostly of interest. Amortization builds principal and interest into each payment, ensuring you pay both, and structures predictable payments for the borrower. It’s used commonly for mortgages, auto loans, student loans, and personal loans.

A template simplifies what can often be a complex process with many difficult formulas.Īmortization involves breaking a fixed-rate loan into equal monthly payments to pay off by a certain date. Get the template What is an Excel loan amortization schedule template?Īn Excel amortization schedule template - what a mouthful - is a pre-structured document with fillable fields that helps you fill out a loan amortization schedule. To help make this easier, we’ve created a fully customizable template that you can export into a completed Excel spreadsheet with just a few clicks. Paying loans back involves using an amortization schedule, breaking the loan into equal monthly payments of principal and interest. Loans help us buy things that are too expensive to pay for with cash in hand, such as homes, cars, and business assets.

Amortization schedule excel template