Multiple Loan Amortization Schedule Excel [TOP] Download

Basically, all loans are amortizing in one way or another. For example, a fully amortizing loan for 24 months will have 24 equal monthly payments. Each payment applies some amount towards principal and some towards interest. To detail each payment on a loan, you can build a loan amortization schedule.

An amortization schedule is a table that lists periodic payments on a loan or mortgage over time, breaks down each payment into principal and interest, and shows the remaining balance after each payment.

Multiple Loan Amortization Schedule Excel Download

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The next thing you do is to create an amortization table with the labels (Period, Payment, Interest, Principal, Balance) in A7:E7. In the Period column, enter a series of numbers equal to the total number of payments (1- 24 in this example):With all the known components in place, let's get to the most interesting part - loan amortization formulas.

2. Calculate total payment amount (PMT formula)The payment amount is calculated with the PMT(rate, nper, pv, [fv], [type]) function.

That's it! Our monthly loan amortization schedule is done:Tip: Return payments as positive numbersBecause a loan is paid out of your bank account, Excel functions return the payment, interest and principal as negative numbers. By default, these values are highlighted in red and enclosed in parentheses as you can see in the image above.

For the Balance formulas, use subtraction instead of addition like shown in the screenshot below:Amortization schedule for a variable number of periodsIn the above example, we built a loan amortization schedule for the predefined number of payment periods. This quick one-time solution works well for a specific loan or mortgage.

In the Period column, insert the maximum number of payments you are going to allow for any loan, say, from 1 to 360. You can leverage Excel's AutoFill feature to enter a series of numbers faster.

2. Use IF statements in amortization formulasBecause you now have many excessive period numbers, you have to somehow limit the calculations to the actual number of payments for a particular loan. This can be done by wrapping each formula into an IF statement. The logical test of the IF statement checks if the period number in the current row is less than or equal to the total number of payments. If the logical test is TRUE, the corresponding function is calculated; if FALSE, an empty string is returned.

As the result, you have a correctly calculated amortization schedule and a bunch of empty rows with the period numbers after the loan is paid off.3. Hide extra periods numbersIf you can live with a bunch of superfluous period numbers displayed after the last payment, you can consider the work done and skip this step. If you strive for perfection, then hide all unused periods by making a conditional formatting rule that sets the font color to white for any rows after the last payment is made.

That's it! Our loan amortization schedule is completed and good to go!Download loan amortization schedule for Excel

How to make a loan amortization schedule with extra payments in ExcelThe amortization schedules discussed in the previous examples are easy to create and follow (hopefully :). However, they leave out a useful feature that many loan payers are interested in - additional payments to pay off a loan faster. In this example, we will look at how to create a loan amortization schedule with extra payments.

Apart from the input cells, one more predefined cell is required for our further calculations - the scheduled payment amount, i.e. the amount to be paid on a loan if no extra payments are made. This amount is calculated with the following formula:

Enter this formula in some cell (G2 in our case) and name that cell ScheduledPayment.3. Set up the amortization tableCreate a loan amortization table with the headers shown in the screenshot below. In the Period column enter a series of numbers beginning with zero (you can hide the Period 0 row later if needed).

=LoanAmount 4. Build formulas for amortization schedule with extra paymentsThis is a key part of our work. Because Excel's built-in functions do not provide for additional payments, we will have to do all the math on our own.

If all done correctly, your loan amortization schedule at this point should look something like this:5. Hide extra periodsSet up a conditional formatting rule to hide the values in unused periods as explained in this tip. The difference is that this time we apply the white font color to the rows in which Total Payment (column D) and Balance (column G) are equal to zero or empty:

Optionally, hide the Period 0 row, and your loan amortization schedule with additional payments is done! The screenshot below shows the final result:Download loan amortization schedule with extra payments

Amortization schedule Excel templateTo make a top-notch loan amortization schedule in no time, make use of Excel's inbuilt templates. Just go to File > New, type "amortization schedule" in the search box and pick the template you like, for example, this one with extra payments:Then save the newly created workbook as an Excel template and reuse whenever you want.

That's how you create a loan or mortgage amortization schedule in Excel. I thank you for reading and hope to see you on our blog next week!

Amortization Schedule examples (.xlsx file)

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Can it be possible client wise auto update loan amortization table?

Also if possible interest rate change so auto update automatic in excel

Extra Payments means (Start at Payment No,Extra Payment,Payment Interval,Extra Annual Payment,Payment,Total Extra Payments) Additional Payment ,Variable or Fixed Rate ,Impact of interest rate HIKE on your loan EMI & repayment schedule & Impact of interest rate CUT on your loan EMI & repayment schedule ? how to create in excel & Suppose provide only interest

Loan Management System (LMS) simplifies the process of entering, tracking, viewing, and editing loan information. Create loan amortization schedules, make loan payments, receive loan payments all inside of Microsoft 365 - Finance & Operations. This digital platform helps automate and streamline every stage of the loan lifecycle, from application to closing.

Believe it or not, a loan amortization spreadsheet was the very first Excel template I downloaded from the internet. Since then, I've discovered the great boost in productivity that can come from not having to start from scratch, and hopefully this page will help you get a head start. This page lists the best places to find an Excel amortization spreadsheet for creating your own amortization table or schedule.

If you want a spreadsheet for creating an amortization table for a loan or mortgage, try one of the calculators listed below. There are some of my most powerful and flexible templates. A feature that makes most of the Vertex42 amortization calculators more flexible and useful than most online calculators is the ability to include optional extra payments. And of course with a spreadsheet, you can save your results.

This may seem similar to the regular loan amortization schedule, but it is actually very different. This spreadsheet is for creating an amortization table for a so-called "simple interest loan" in which interest accrues daily instead of monthly, bi-weekly, etc.

My article "Amortization Calculation" explains the basics of how loan amortization works and how an amortization table or "schedule" is created. You can delve deep into the formulas used in my Loan Amortization Schedule template listed above, but you may get lost, because that template has a lot of features and the formulas can be complicated.

You can also find a free excel loan amortization spreadsheet by doing a search in Excel after going to File > New. Some of them use creative Excel formulas for making the amortization table and a couple allow you to manipulate the schedule by including extra payments. The new online Microsoft template gallery doesn't have as many loan-related templates as the old gallery, but you can still find a few in the Financial Management category.

I have seen on here how to Amortize a single Loan through this website and I was able to get it to work using the code below. But I am now trying to amortize multiple loans at the same time and produce the aggregate information at the end. I couldn't find anything online on how to do this, any ideas on where to start?

Is it possible to use Power BI to consolidate data from multiple sources and calculate the quarter-to-quarter changes? My objective is to compare a loan balance from an amortization schedule (in Excel) at a specific time with the loan balance recorded in our accounting ledger (in Oracle). The challenge I'm facing is how to create a unified table within Power BI that can accommodate two distinct data sets in a single report. Is this a feasible task to achieve?

We have offered a downloadable Windows application for calculating mortgages for many years, but we have recently had a number of people request an Excel spreadsheet which shows loan amortization tables. e24fc04721