Loan calculator templates

A loan repayment schedule shows each payment split between interest and principal, and how the balance falls over the term. Use one when you are comparing loans or planning a mortgage.

Include loan amount and interest rate, term and payment frequency, regular payment, interest and principal for each payment, remaining balance, and total interest over the loan. Compare loans on both the monthly payment and the total interest, because a lower payment can cost more over the full term.

A fixed payment depends on the amount borrowed, the interest rate and the number of payments. Each payment covers the interest due for that period, and the rest reduces the balance.

Interest is charged on the balance still owed, which is highest at the start. As the balance falls, a larger share of each payment reduces the debt.

Yes, because extra payments lower the balance sooner and so reduce the interest charged on what remains. Check your loan terms first, since some lenders charge a fee for early repayment.

Start with Loan Amortization Schedule: Enter a loan once and see each monthly payment split into interest and principal over time. If that is not the right fit, compare it with Mortgage Calculator.

The templates here are 6 to 7 pages long. Cut any section you do not need; each template explains what its sections are for.

Yes. These loan calculator templates work in Google Sheets and Microsoft Excel. All 2 templates are free, with no account or email needed.