Excel Bi-Weekly Amortization Schedule [Free Download]

A bi-weekly amortization schedule is a great tool to visualize one’s bi-weekly loan repayment process. From this schedule, s/he will be able to know how much s/he is paying interest and principal at each bi-weekly payment. S/he can also know how his remaining balance is decreasing over the loan tenure.

Download our free Excel bi-weekly amortization schedule template to generate your bi-weekly amortization schedule and read the article below to learn how to use the template efficiently.

This template would be greatly helpful for bankers, financial planners, investors, and all kinds of borrowers and lenders who are looking forward to taking or giving a loan.

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Download Excel Template

For: Excel 2007 or later
License: Private Use

⏷What Is Bi-Weekly Amortization Schedule?
⏷Bi-Weekly Amortization Schedule Excel Template
  ⏵How to Use This Template
  ⏵Bi-Weekly Amortization Schedule with Extra Payments (Regular/Irregular) Excel Template
⏷Bi-Weekly Amortization Schedule Excel Template Tips

What Is Bi-Weekly Amortization Schedule?

A bi-weekly amortization schedule is a definite type of amortization schedule where regular payment is fixed as bi-weekly. Through this amortization schedule, a borrower can find his required regular bi-weekly payment. S/he can know how much interest and principal is being paid at each payment and how much loan balance is remaining after each payment.

Bi-Weekly Amortization Schedule Excel Template

In this template, you will be able to insert all your required inputs and you will get an automated amortization schedule for your bi-weekly loan. You will also find an output summary containing all important outputs along with a summary chart showing the principal paid, interest paid, and remaining balance over the loan tenure.

How to Use This Template

Follow the instructions below to use this template efficiently.

Instructions:

• Insert your loan parameters in the blue shaded area of the Input Values column. The necessary inputs are:

1. Original Loan Terms (Years)
2. Loan Amount
3. Annual Percentage Rate (APR)
4. Loan Date
5. Payment Type
6. Interest Compounding Frequency

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• After inserting the required inputs, you will get your required bi-weekly payment amount and your desired bi-weekly amortization schedule. You will also get a summary chart showing the principal paid, interest paid, and balance trend over the loan tenure.
• You will also find an output summary containing the following outputs-

1. Interest Rate (Per Period)
2. Total Amount to be Paid
3. Total Interest to be Paid
4. Total No. of Payments
5. Time Saved

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Read More: Excel Weekly Amortization Schedule 

Bi-Weekly Amortization Schedule with Extra Payments (Regular/Irregular) Excel Template

If the borrower makes some extra money during loan tenure, s/he might wish to make some extra payments along with his/her regular payments. This will result in less interest to be paid and less time to repay the loan.

In this template, you will be able to insert your regular/irregular extra payments and get the following results.

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How to Use This Template

Go through the instructions below to use this template efficiently.

Instructions:

• Open the Payoff Calc. (Extra Payments) sheet and insert your required inputs in the blue shaded area of the Input Values column according to the loan parameters.

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• You will get your required bi-weekly regular payment. If you want to insert some extra irregular payment entries, you have to do it manually in the Extra Payments (Irregular) column of the amortization table.

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• You will get your final amortization schedule and a summary chart containing all important outputs such as estimated interest savings and time saved.
• You will also get a summary chart showing your principal paid, interest paid, and remaining balance over the loan tenure.

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Read More: Excel Actual/360 Amortization Calculator Template

Bi-Weekly Amortization Schedule Excel Template Tips

• When inserting your loan inputs and choosing dropdowns, follow the added notes in the loan parameters to insert your values correctly.
• When choosing interest compounding frequency, keep in mind that, you need to choose it as equal to or greater than the regular payment frequency.
• When choosing extra payment frequency, choose it as multiple of regular payment frequency. So, here you can only choose Bi-weekly as extra payment frequency.

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• Excel 30 Year Amortization Schedule Template
• Loan Amortization Schedule with Variable Interest Rate in Excel

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