Loan Repayment and Amortisation Calculator (Excel)
An Excel calculator for finance teams and small businesses to plan and understand a loan. You enter the loan amount, interest rate, term, payment frequency (monthly, quarterly, half-yearly or annual) and repayment method: equal instalments, or equal principal with reducing payments. You can also add interest-only grace periods, fees, regular extra payments and lump-sum prepayments. It produces: Full repayment schedule: up to 360 payments, showing the payment date, interest, principal, balance and running totals. Yearly summary: totals for each calendar year, for budgets and financial statements. Summary page: the instalment, total interest, total repaid, final payment date, fees, total and effective cost of borrowing, and the interest saved by early repayments, with charts. Compare Offers: puts up to four loan offers side by side and ranks them by true cost. How to use: Loan Inputs: enter the terms from your loan offer letter, including any grace period, fees and planned extra payments. Schedule: review each payment. It calculates automatically, so don’t type in it. Yearly Summary: use the yearly totals for budgeting and cash-flow planning. Summary: check the instalment, total cost and effective annual cost. Compare Offers: enter competing offers and choose the one with the lowest effective cost. Before use: replace the example figures, and confirm the results against your lender’s official schedule. Lenders may calculate interest daily or round