Loan Amortization Template: Create a Payment Plan & Track Payments. Easily manage your loan payments with this free Loan Amortization Template. Keep track of your loan balance, interest rate, and more with this helpful template.
A loan amortization template is a tool used to calculate and track the repayment schedule of a loan. It is commonly used in financial planning and analysis to understand the distribution of principal and interest payments over the life of a loan.
The template typically includes the following information:
Loan Details: This section includes fields such as the loan amount, interest rate, loan term, start date, and any additional fees or charges associated with the loan.
Amortization Schedule: This section provides a detailed breakdown of the loan repayment schedule. It includes columns for payment number, payment date, beginning balance, payment amount, interest portion, principal portion, and ending balance.
Payment Calculation: This section outlines the formula or calculation used to determine the payment amount for each period. It usually takes into account the loan amount, interest rate, and loan term.
Summary and Totals: This section provides a summary of the loan, including the total amount repaid, total interest paid, and the remaining balance at any given point in time.
Using a loan amortization template allows you to visualize how each payment affects the loan balance, the portion allocated to interest, and the reduction of the principal amount over time. It helps you understand the financial implications of borrowing money and plan your repayment strategy accordingly.
0.0
0 reviews
0%
0%
0%
0%
0%
No Reviews
0.0
0 reviews
0%
0%
0%
0%
0%
Login to review this template
Login to send report
We value your privacy
We use the data to analyze traffic on our website and share information about usage with our analytics partners. You can read more and change your choices on our page about data management and cookies. Read more on our page about data management and cookies .
