# Excel Payment Calculator [Free Download]

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Excel payment calculator is one of the most common and essential calculators to track and plan oneâ€™s various loan or savings payments. From this calculator, one can find his/ her required regular payment/ interest rate/ loan tenure to pay off a loan. Even one can find his loan amount too from paying a fixed payment around a fixed loan tenure at a fixed interest rate.

In this free downloadable template, you will find all these required calculators to use according to your own purpose. Moreover, you will find some other necessary calculators like HELOC Payment, Line of Credit Payment, Snowball Payment, and Progressive Payment calculators.

This template would be very helpful for borrowers, lenders, service holders, business persons, students, and other common people who are looking forward to repaying a loan, or giving away a loan, or planning to save for the future.

Download Excel Template

For: Excel 2007 or later
License: Private Use

Table of Contents

## Excel Payment Calculator

Excel payment calculator is a calculator that calculates your required payment or any other loan parameter depending on your various fixed loan parameters. There might be multiple payment calculators depending on your requirements. You might need to find your payment from loan parameters, you might need to calculate your loan amount based on fixed payment, interest rate, and loan tenure. Besides, you might need to find an interest rate to attain a principal with a regular payment amount within a fixed tenure. Again, you might need to find the number of periods to repay a loan with a fixed regular payment at a fixed interest rate.

### Find Payment to Repay Loan

In this template, you will be able to insert your loan parameters like Loan Terms, Loan Amount, Annual Percentage Rate, Regular Payment Frequency, Interest Compounding Frequency, etc. And, you will find your required regular payment amount along with a summary, amortization schedule, and a chart to calculate and visualize all your output data.

Follow the instructions below to use this template properly.

Instructions:

1. Open the template Payment Calculator and insert your loan inputs in the blue shaded area based on the given loan parameters.
2. After inserting all the inputs, you will find your regular payment amount, output summary, amortization schedule, and a chart to show your loan repayment trend over the loan tenure.

### Find Loan Amount from Payment

If you know the payment already, but you want to know the loan amount after a loan tenure at a fixed interest rate, then you have to follow this template below.

To use this template, insert all required inputs and choose all required dropdowns in the blue shaded area depending on the given loan details.

According to your inputs, you will get your loan amount and total interest.

### Find Interest Rate from Payment

Now, if you want to know your annual percentage rate to cover a loan amount with a fixed payment amount through a fixed loan tenure, follow the template below.

To use this template, insert all required inputs in the blue shaded area of the template according to the loan parameters.

You will find your required annual interest rate and total interest amount.

### Find Loan Tenure from Payment

If you want to find your loan tenure to repay a loan with a fixed interest rate by paying a regular fixed amount, then you might work with the template below.

Insert all the required inputs in the blue shaded area of the template according to the loan details.

You will find your loan terms in years and the total interest amount to be paid according to your given inputs.

## Excel HELOC Payment Calculator

HELOC is a special type of loan which stands for Home Equity Line of Credit. This is taken for home improvements and repairs. But this is different than basic home loans or mortgages. In home loans, you get a lump sum amount to use and you have to repay the loan within a fixed loan tenure at a fixed interest rate. Whereas, in HELOC, you will be able to withdraw or use money based on your instantaneous requirements like a credit card. In this loan type, your interest rate might vary too and you will have to pay only the amount that you withdrew from your loan.

The formula for calculating HELOC payment is:

HELOC Payment =Â  (Current Home Balance Ã— Monthly Interest Rate) Ã— ( (1 + Monthly Interest Rate)^(12 Ã— Repayment Periods in Years)) / ( (1 + Monthly Interest Rate)^(12 Ã— Repayment Periods in Years) â€“ 1 )

You can use Excel HELOC Payment Calculator to calculate your HELOC payment. You will have to just insert your HELOC inputs in the blue shaded area here. And, you will get your required HELOC payment according to your HELOC parameters.

## Excel Line of Credit Payment Calculator

A line of credit is a flexible loan that allows you to use money as much as you need up to a certain limit. You can repay the borrowed money instantly or over a period of time in regular minimum payments. Its interest rate might be fixed or variable over the period. You can use the line of credit repeatedly up to a certain limit. When you use all the limits of your line of credit, you have to repay some borrowed amounts to clear the limit again for borrowing further.

You can use Excel Line of Credit Payment Calculator to calculate your line of credit according to your income, withdrawal amounts, and interest rate. In the below template, you will have to only insert inputs in the blue-shaded area. Thus, all required calculations will be done and you will get your required Line of Credit Payment for the following month.

## Excel Snowball Payment Calculator

Snowball payment is generally a loan repayment strategy applied to repay debts when someone is under multiple debts. In this approach, the borrower will make the minimum payment of each debt and then s/he will pay his/her extra amounts in the lowest debt as an extra payment to that debt. By doing this, s/he will be able to repay his lowest debt earlier than the regular approach. After repaying the lowest debt, s/he will focus on the second lowest debt, that is s/he will pay his extra amounts fully on the second lowest debt.

You can use Excel Snowball Payment Calculator to calculate and visualize your snowball payment to repay your multiple debts. Here, you will have to insert your debt inputs in the blue-shaded area and you will get your debt repayment table automatically.

## Excel Progressive Payment Calculator

Progressive payment is a different type of payment structure that is mainly used in large construction projects. In this type of loan, mainly the whole loan is not given away at a single term. Rather, the project is divided into several milestones and assigned percentages based on the importance of the milestones.

For long-term projects, it is a very efficient payment structure. Because it makes sure the cash flow is always enough whenever in need. And at the same time, it reduces the risk of spending too much cash in an instant or incurring too much interest.

You can use Excel Progressive Payment Calculator toÂ divide your projects into your chosen milestones and assign respective percentages. Following, you can insert your loan inputs and get your progressive payment calculator according to project terms and loan inputs.

## Excel Payment Calculator Tips

• Insert all the required inputs and select all the required dropdowns in the input area.
• Go through the added notes at the input parameters to understand better and insert inputs without errors.
• Follow the headings of the multiple calculators before working with the calculator and inserting inputs.
• Do not choose a smaller interest compounding frequency than the regular payment frequency. That is if your regular payment frequency is monthly, you must insert interest compounding frequency as monthly/ bi-monthly/ semi-annually/ yearly, etc.

## Conclusion

So, from this free downloadable template, you will be able to calculate your required regular payment amount depending on your loan or savings inputs. You will also be able to calculate your loan/savings amount, interest rate, and loan terms in years depending on your given inputs. Moreover, you will find some necessary templates like HELOC Payment, Line of Credit Payment, Snowball Payment, etc. calculators to use in your needs from this tutorial.

## Payment Calculator Excel: Knowledge Hub

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