FINBIZTOOLS
Loan Repayment Planner Excel Template
Download our free Loan Repayment Planner Excel template to compute monthly loan EMIs, evaluate interest savings from extra monthly prepayments, and inspect a 60-month principal and interest amortization schedule.
What's included in this template
- 1 Microsoft Excel Workbook (.xlsx)
- 3 Worksheets: Instructions, Loan Summary, Amortization Schedule
- Dynamic PMT, MIN, MAX, and ROUND amortization formulas
- Prepayment savings simulator
- Clear guidance on lender fee exclusions and rate reset conventions
Key features
- Standard PMT formula: Computes accurate monthly EMI using standard reducing balance financial formulas.
- Prepayment simulator: Add optional monthly prepayments to evaluate tenure reduction and interest savings.
- Summary metrics: Instant calculation of Scheduled Monthly EMI, Total Scheduled Payments, Total Interest Payable, and Payment-to-Principal ratio.
- Amortization schedule: 60-month payment schedule showing opening balance, EMI, prepayment, interest, principal repaid, and closing balance.
- Indian currency formatting: Structured with Indian rupee formatting (₹) and clean alternating rows.
What’s included
- 1 Microsoft Excel Workbook (.xlsx)
- 3 Worksheets: Instructions, Loan Summary, Amortization Schedule
- Dynamic PMT, MIN, MAX, and ROUND amortization formulas
- Prepayment savings calculator
- Clear documentation on lender fee exclusions and rate reset conventions
How to use this template
Switch to the ‘Loan Summary’ tab. Enter your borrowed Loan Principal in cell C5, Annual Interest Rate in cell C6, and Loan Tenure in Years in cell C7. In cell C9, enter an optional extra monthly prepayment (e.g. ₹5,000) to simulate accelerated payoff. Switch to the ‘Amortization Schedule’ tab to review month-by-month principal reduction, interest paid, and closing balance progression.
Formulas and methodology
Monthly EMI = ROUND(−PMT(AnnualRate / 12, TenureMonths, Principal), 2). Monthly Interest = ROUND(OpeningBalance × (AnnualRate / 12), 2). Principal Repaid = MIN(OpeningBalance, (ScheduledEMI − InterestPaid) + ExtraPrepayment). Closing Balance = MAX(0, OpeningBalance − PrincipalRepaid). Schedule uses monthly reducing balance arithmetic.
Compatibility and file details
Format: Microsoft Excel OpenXML Spreadsheet (.xlsx). File size: Approximately 10 KB. Compatible with Microsoft Excel 2016+, Microsoft 365, Google Sheets, and LibreOffice Calc.
Frequently asked questions
Does this include bank processing fees or GST on interest?
No. The planner models pure principal and interest repayment. Upfront processing charges, documentation fees, and insurance are excluded.
Can I simulate home loans and car loans?
Yes. The workbook works for any fixed-rate reducing-balance loan, including home mortgages, auto loans, personal loans, and education loans.
Can I edit this in Google Sheets?
Yes. The PMT and amortization formulas work identically in Google Sheets.
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Disclaimer
Repayment schedules represent mathematical estimates. Actual bank amortization can vary due to daily interest conventions, holiday leap-day adjustments, and floating rate resets. Consult your lender for official schedules. Read our Disclaimer and Privacy Policy.