Excel Weekly Amortization Schedule [Free Download]

Amortization schedule is a visualization tool that helps borrowers keep track of their loan repayment process over the loan term. For the weekly amortization schedule, the regular payment frequency is fixed as weekly for repaying loans. From this schedule, the borrower would be able to know his principal paid, interest paid, and remaining loan balance after each payment over the loan tenure.

Download our free Excel weekly amortization schedule to generate your weekly loan amortization schedule and read the article to learn how to use this template.

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

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Download Excel Template

For: Excel 2007 or later
License: Private Use

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

What Is Weekly Amortization Schedule?

A weekly amortization schedule is a special type of amortization schedule that assumes the regular payment is done weekly. From this amortization schedule, the borrower can learn how much principal or interest he has paid and how much loan is remaining after each weekly payment over the loan tenure.

Weekly Amortization Schedule Excel Template

In this template, you can insert all your weekly loan inputs and you will find your weekly loan amortization schedule automatically generated. You will find an output summary containing all your important results and a summary chart showing the principal paid, interest paid, and balance over the loan tenure.

How to Use This Template

Follow the instructions below to use the template efficiently.

Instructions:

• Insert all the required inputs and choose all the required dropdowns in the blue shaded area of the Input Values column. The necessary inputs are:

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

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• You will get your automated amortization schedule and an output summary containing the following important 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

• You will also find a summary chart showing the principal paid, interest paid, and remaining balance over the loan tenure.

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Read More: Excel Bi-Weekly Amortization Schedule 

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

If someone can make some extra payments along with his/her regular payments, s/he will be able to repay the loan quicker which will result in lesser interest to be paid. In this template, you will be able to insert all necessary inputs along with additional payments. You can add both regular and irregular extra payments here.

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How to Use This Template

Go through the instructions below to use the 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.

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• After inserting the inputs, you will find your Weekly Payment Amount. If you want to make some irregular extra payments, you have to add this manually in the Extra Payments (Irregular) column in the amortization table.

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• You will get your automated final amortization schedule and an output summary containing all important outputs like Estimated Interest Savings and Time Saved.
• You will also get a summary chart to visualize your interest paid, principal paid, and remaining balance trend over the loan tenure.

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Read More:  Excel Actual/360 Amortization Calculator Template

Weekly Amortization Schedule Excel Template Tips

• Follow the notes added in the loan parameters to insert proper input values and choose the proper dropdowns.
• In this template, the Regular Payment Frequency is fixed as Weekly.
• When choosing Interest Compounding Frequency, remember to choose it as equal to or greater than the Regular Payment Frequency.
• When choosing Extra Payment Frequency, keep in mind to choose it as a multiple of the Regular Payment Frequency. So, here you can choose Weekly or Bi-weekly.

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

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