Excel Monthly Amortization Schedule [Free Download]

Excel monthly amortization schedule is a great tool to visualize one’s loan repayment process with monthly payments. From this table, a borrower can easily know his principal paid, interest paid, and remaining loan balance after each payment over the loan tenure.

Download our free Excel Monthly Amortization Schedule template to generate your monthly amortization schedule and read the article to learn how to use this article efficiently.

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

Click here to enlarge the image

Download Excel Template

For: Excel 2007 or later
License: Private Use

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

What Is Monthly Amortization Schedule?

A monthly amortization schedule is an amortization schedule that shows the principal paid, interest paid, and the remaining loan balance after each monthly payment over the loan tenure. It enables the borrower to track his/her loan repayment process easily.

Excel Monthly Amortization Schedule Template

In this template, you will be able to insert all your required inputs and get an automated amortization table based on your loan parameters. You will alos find an output summary containing all important outputs and a summary chart showing the principal paid, interest paid, and remaining balance.

How to Use This Template

Follow the instructions below to use this template efficiently.

Instructions:

• Open the Payoff Calc. sheet and insert all required inputs in the blue-shaded area of the Input Values column. The required inputs are:

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

Click here to enlarge the image

• After inserting all inputs, you will find your required regular monthly payment, an amortization table for your monthly loan, and a summary chart showing the principal paid, interest paid, and remaining balance over the loan tenure.
• You will also find an output summary containing important outputs. Such as:

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

Click here to enlarge the image

Read More: Loan Amortization Schedule with Variable Interest Rate in Excel

Excel Monthly Amortization Schedule with Extra Payments (Regular/Irregular) Template

If a borrower can earn extra money, he/she might want to make some extra payments with his/her regular payments. This will result in lesser interest to be paid and repaying the loan quicker.

In this template, you would be able to insert these extra payment inputs. And, you will get all the results and charts based on these inputs.

Click here to enlarge the image

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 all the required inputs in the blue shaded area of the Input Values column.

Click here to enlarge the image

• You will get your required monthly payment. If you want to make some irregular extra payments, you have to record them manually in the Extra Payments (Irregular) column in the amortization table.

Click here to enlarge the image

• You will get your automated amortization schedule with extra payments and a new summary chart showing the principal paid, interest paid, and remaining balance trend over the loan years.
• You will also find an output summary containing all important outputs such as estimated interest savings and time saved.

Click here to enlarge the image

Read More: Excel Actual/360 Amortization Calculator Template

Excel Monthly Amortization Schedule Template Tips

• Read and follow the added notes in the loan parameters to insert your loan input values properly.
• When choosing interest compounding frequency, choose it as greater frequency than monthly payment frequency.
• When choosing extra payment frequency, choose it as a multiple frequency of monthly payment frequency.

Related Articles

• EIDL Loan Amortization Schedule Excel
• Excel Quarterly Amortization Schedule
• Excel Bi-Weekly Amortization Schedule 
• Excel Weekly Amortization Schedule
• Loan Amortization Schedule in Excel with Moratorium Period
• Excel 30 Year Amortization Schedule Template

<< Go Back to Amortization Schedule | Finance Template | Excel Templates