Loan Amortization Schedule (Free Excel)
A free Excel loan amortization schedule. Enter the amount, rate and term, add an optional extra monthly payment, and see each payment split into principal and interest.
Download the free Excel template (.xlsx)
Free. No email or sign-up needed. One Excel file, 2 sheets.
What is inside the loan amortization schedule
| Sheet | What it does |
|---|---|
| Amortization | Inputs at the top (loan amount, rate, term, first payment date, extra payment). Monthly payment, total interest, interest saved and a payment-by-payment schedule for up to 360 payments. |
| Read me | Short instructions and colour key. |
Yellow cells are for your own numbers and text. Green cells calculate by themselves, so do not type over them. Sample data is included so you can see how it works, then replace it with your own.
How to use it
- Download the file and open it in Excel 2010 or later. It also opens in Google Sheets and LibreOffice.
- Replace the sample data in the yellow cells with your own.
- Read the totals and results that update automatically.
- Save a copy for each month, project or client, or print it from File > Print.
The template is free to use and edit. If you want a version built around your own process, with your branding, extra sheets or automation, tell us what you need.
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Frequently asked questions
How do I make an amortization schedule in Excel?
Use the PMT function for the monthly payment, then for each row calculate interest as balance times rate divided by 12 and principal as payment minus interest. This template already has it set up.
Can I add extra payments?
Yes. Type an extra monthly amount and the schedule shortens, with total interest saved shown at the top.
Does it work for mortgages and car loans?
Yes. It works for any fixed-rate loan with monthly payments up to 30 years.
How accurate is it?
It uses the standard fixed-rate formula. Your lender may round differently by a few cents, so check the final payment against your loan statement.
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