Free Amortization Schedule Templates (Excel)
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by maddisondean
An amortization schedule shows exactly how each loan payment splits between principal and interest, and how the balance shrinks month by month. This set of 26 templates works for mortgages, car loans, and personal financing, helping borrowers, students, and small-business owners see the true cost of borrowing before they commit. Plug in the amount, rate, and term, and the full payoff timeline lays itself out in front of you.
The schedules come as Excel spreadsheets that recalculate automatically the moment you change a number, so you can test different rates or extra payments in seconds. Treat the results as estimates and confirm exact figures with your lender. Download the calculator that fits your loan and map out your payoff plan today.
When to use this Amortization Schedule template
- A student debt advisor helping clients evaluate their 10-year federal loan repayment plan to compare standard, graduated, or income-driven options before choosing one that fits their budget.
- A small business owner reviewing a $50,000 equipment loan at 6% over 60 months to see how extra principal payments could save thousands in interest over time.
- A first-time homebuyer comparing a 15-year mortgage vs. a 30-year loan at the same interest rate to decide which aligns with their long-term financial goals.
- A financial coach assisting clients with multiple loans (car, credit card, personal) to prioritize payoffs by calculating which debt will cost the most in interest if not tackled first.
Which format should I download?
This collection features only Excel templates, which are ideal for users who need a flexible, customizable way to input their own loan details and adjust variables like payment frequency or extra contributions. Excel is best for those comfortable with spreadsheets and wanting to track amortization over time—adding notes, formulas, or even linking to other financial models. Choose this if you plan to analyze multiple scenarios or integrate the schedule with other budgets or projections. For a quick, no-formula option, Excel’s simplicity lets you manually adjust terms without overwriting pre-set structures.
Choose from 26 Amortization Schedule Templates
How to use this Amortization Schedule template
Can I use these templates to compare loans with variable interest rates?
These Excel templates are designed for fixed-rate loans, where both the interest rate and payment remain constant. For variable-rate loans, you’d need to manually adjust the interest rate cell each period or use a more advanced tool like a loan amortization macro. The templates won’t automatically recalculate for fluctuating rates, so they’re best for scenarios where the rate stays the same throughout the term.
Will the templates show me how extra payments affect my payoff date?
Yes, many of these templates include fields for extra principal payments, which will automatically recalculate your remaining balance, interest savings, and new payoff date. Look for templates labeled with ‘extra payments’ or ‘biweekly payments’—these are specifically built to show the impact of accelerating payments. Just enter the additional amount each period to see the timeline adjust in real time.
Do these templates account for taxes or insurance in loan calculations?
No, these amortization schedules focus solely on the principal and interest breakdown of the loan itself. They don’t include escrow amounts (like property taxes or PMI) or insurance premiums, which would require additional columns or a separate template. For a full breakdown, you’d need to manually add those line items or use a mortgage-specific tool that combines amortization with escrow calculations.
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