Loan Amortization Schedule Template
Enter loan amount, annual interest rate and term; see every monthly payment split between interest and principal.
Free Excel workbook · direct .xlsx file · no signup · works without JavaScript
What is in the file
The Amortization sheet, exactly as you will get it. Cells shown as=… are live formulas in the download, not text. The How to use tab explains what to change first.
| Loan amortization planner | |||||
|---|---|---|---|---|---|
| Loan amount | 10000 | ||||
| Annual interest rate | 0.075 | ||||
| Number of payments (whole 1-60) | 24 | ||||
| Monthly payment | =IFERROR(IF(OR(NOT(ISNUMBER(B2)),NOT(ISNUMBER(B3)),NOT(ISNUMBER(B4)),B2<=0,B4<1,B4>60,MOD(B4,1)<>0,B3<0),"",IF(B3=0,B2/B4,PMT(B3/12,B4,-B2))),"") | ||||
| Edit B2:B4. This schedule supports 1-60 whole monthly payments; all figures use one currency. | |||||
| Payment # | Opening balance | Payment | Interest | Principal repaid | Closing balance |
| 1 | =IF(OR(A8>$B$4,$B$5=""),0,$B$2) | =IF(B8<=0,0,MIN(B8+D8,$B$5)) | =IF(B8<=0,0,B8*$B$3/12) | =IF(B8<=0,0,C8-D8) | =MAX(0,B8-E8) |
| 2 | =IF(OR(A9>$B$4,$B$5=""),0,F8) | =IF(B9<=0,0,MIN(B9+D9,$B$5)) | =IF(B9<=0,0,B9*$B$3/12) | =IF(B9<=0,0,C9-D9) | =MAX(0,B9-E9) |
| 3 | =IF(OR(A10>$B$4,$B$5=""),0,F9) | =IF(B10<=0,0,MIN(B10+D10,$B$5)) | =IF(B10<=0,0,B10*$B$3/12) | =IF(B10<=0,0,C10-D10) | =MAX(0,B10-E10) |
| 4 | =IF(OR(A11>$B$4,$B$5=""),0,F10) | =IF(B11<=0,0,MIN(B11+D11,$B$5)) | =IF(B11<=0,0,B11*$B$3/12) | =IF(B11<=0,0,C11-D11) | =MAX(0,B11-E11) |
| 5 | =IF(OR(A12>$B$4,$B$5=""),0,F11) | =IF(B12<=0,0,MIN(B12+D12,$B$5)) | =IF(B12<=0,0,B12*$B$3/12) | =IF(B12<=0,0,C12-D12) | =MAX(0,B12-E12) |
| 6 | =IF(OR(A13>$B$4,$B$5=""),0,F12) | =IF(B13<=0,0,MIN(B13+D13,$B$5)) | =IF(B13<=0,0,B13*$B$3/12) | =IF(B13<=0,0,C13-D13) | =MAX(0,B13-E13) |
| 7 | =IF(OR(A14>$B$4,$B$5=""),0,F13) | =IF(B14<=0,0,MIN(B14+D14,$B$5)) | =IF(B14<=0,0,B14*$B$3/12) | =IF(B14<=0,0,C14-D14) | =MAX(0,B14-E14) |
Preview showing the first 14 of 68 rows. The downloadable workbook contains the full schedule.
How this template works
A monthly payment figure alone does not show what you still owe. This amortization schedule uses the standard PMT formula to calculate fixed payments from principal, annual rate and term, then splits each instalment between interest and principal. The closing balance and total interest update whenever you change the three inputs.
Use it for
- Understanding how a fixed-rate loan pays down over time
- Comparing principal and interest across monthly repayments
- Checking a basic loan calculation independently of a lender quote
Related templates
Free to use, share and republish — including commercially. Attribution isn't required, but it's what keeps these free to make, and there's one ready to paste below.
Questions
Is this loan amortization schedule template free?
Yes — free to download and free to use, personally or commercially. There is no email gate, no account and no watermark.
Do the formulas work, or are they just shown?
They work. The file contains live formulas, so editing a value recalculates everything that depends on it. The "How to use" tab lists which cells are formulas so you know what you are typing over.
Which apps open it?
Any spreadsheet that reads .xlsx: Excel, Google Sheets, LibreOffice Calc and Apple Numbers. To use it in Sheets, upload the file to Drive and open it with Google Sheets.
Where does the file come from?
The Excel workbook is a ready-made static file hosted by FormulaSmith. The direct link also works when JavaScript is switched off; nothing needs to be uploaded or signed up for.