Free Loan Amortization Spreadsheet Template for Google Sheets & Excel
Amount, rate and term go in; the monthly payment, the total paid over the term and the interest inside it come back, alongside the monthly rate and the number of payments. The Free Loan Amortization spreadsheet template holds the whole calculation on one working sheet with a currency dropdown. There is no payment schedule in this build. One file for Google Sheets and Excel. No macros, no VBA, no sign-up.
The FinancialAha Free Loan Amortization Spreadsheet Template is a one-sheet workbook for Google Sheets and Excel, with a How to Use guide on a second tab. It works as a Free Loan Amortization Excel template and a Free Loan Amortization Google Sheets template from the same download. This Free Loan Amortization spreadsheet template gives the headline figures for a loan: what it costs each month, what it costs in total, and how much of that is interest. No macros, no VBA, no sign-up.
Inside the workbook
What's inside the FinancialAha Free Loan Amortization spreadsheet template
The FinancialAha Free Loan Amortization Spreadsheet Template runs on one working sheet, with the instructions on a tab of their own. It works in both Microsoft Excel and Google Sheets and here is what the Free Loan Amortization spreadsheet holds.
01of 01
Amortization
The single working sheet, and the whole template. Three figures in - the amount, the rate and the term - and five back: the rate per month, how many payments the term contains, the monthly payment, the total paid, and the interest inside that total. Worth being clear about what this build does not do: there is no payment-by-payment schedule in it, so you get the summary of an amortising loan rather than the table itself. The split between principal and interest shifting over the term is what the larger builds show.
Amortization
Included guide
How to Use
A step-by-step guide on its own tab, covering setup, how to replace the sample values, and how to change the currency. Because it ships inside the file, the instructions travel with the template wherever it is opened.
Works in both Google Sheets and Excel
Free Loan Amortization Spreadsheet template for Google Sheets
Upload the Free Loan Amortization Spreadsheet Template to Drive, right-click it, and choose "Open with Google Sheets". This Free Loan Amortization Google Sheets template needs no conversion step and nothing gets rewritten on the way in - the figures recalculate exactly as they do in Excel. The currency dropdown beside the title relabels each money field, and the whole Free Loan Amortization spreadsheet is small enough to open instantly.
Free Loan Amortization Google Sheets template setup
A shared copy of the Free Loan Amortization Google Sheets template works when two people are weighing the same borrowing, and Sheets version history covers a rate typed over. One screen of figures keeps the Free Loan Amortization Spreadsheet Template quick to open while a quote is in front of you.
Sharing the Free Loan Amortization Google Sheet
The Free Loan Amortization Google Sheet is built for a sitting rather than a routine: put a loan in, read the figures, then change the rate or the term and read them again. Because the Free Loan Amortization spreadsheet has no schedule to scroll, comparing two offers takes seconds.
Free Loan Amortization Spreadsheet template for Excel
The Free Loan Amortization spreadsheet Excel download is a plain .xlsx. Excel opens this Free Loan Amortization Excel template directly, with no import step and no compatibility prompt, and every figure updates the moment an input changes. There are no macros and no VBA in the file, so it opens without a security warning.
Free Loan Amortization Excel template setup
The same Free Loan Amortization Excel template opens in Excel on Windows, Excel on Mac, and Excel for the web. It is also the identical file you would upload to Drive, so there is no separate Free Loan Amortization spreadsheet download to choose between.
Free Loan Amortization spreadsheet Excel notes
The Free Loan Amortization spreadsheet Excel file carries no macros and no VBA, so Excel opens it without a trust prompt. The same Free Loan Amortization spreadsheet Excel download also opens in Excel for the web, which matters when you move between a work machine and a personal one.
Opening the Free Loan Amortization spreadsheet Excel file
Nothing in the Free Loan Amortization Excel template is version-specific, so this Free Loan Amortization spreadsheet Excel workbook behaves identically in Excel on Windows, Excel on Mac, and older builds.
What the Free Loan Amortization spreadsheet template tracks
Three inputs on the left, five figures back on the right. The Free Loan Amortization Spreadsheet Template summarises the loan rather than scheduling it:
Loan amount
what is being borrowed
Annual rate
the rate the loan carries
Term (years)
how long it runs
Monthly rate auto
derived, the annual rate expressed per month
Total payments auto
derived, how many payments the term contains
Monthly payment auto
derived, principal and interest each month
Total paid over term auto
derived, everything paid by the end
Total interest paid auto
derived, the part of that which was not the loan
Compare builds
FinancialAha Loan Amortization spreadsheet template: Free, Essentials, and Ultimate compared
The FinancialAha Free Loan Amortization Spreadsheet Template covers one working sheet and gives the summary figures for a loan. Despite the name there is no schedule in this build - no payment-by-payment table, no principal and interest split per period, and no extra payments - which is the honest limit of the free version. The Essentials Loan Amortization Spreadsheet Template for Google Sheets and Excel adds the table itself, dated from your first payment, with every row split between principal and interest, an extra payment column, a payoff date and two charts. The Ultimate Loan Amortization Spreadsheet Template runs two loans at once with a schedule each, a combined payoff date, a blended rate across them, and a sheet on what extra payments actually change.
Notes on working in the Free Loan Amortization spreadsheet template
Three inputs go in and five figures come back, including the monthly rate and the payment count as results of their own.
A rate of zero returns the loan spread evenly across the payments rather than an error.
Total interest is everything paid less what was borrowed, so it moves with the term as much as with the rate.
This build gives the totals rather than the table. The payment-by-payment schedule is what the Essentials build adds.
The dropdown beside the title relabels the money fields. It changes the label and nothing else.
How the Loan Amortization template works
The Free Loan Amortization Spreadsheet Template gives the headline figures for a loan on one sheet: what it costs each month, what it costs in total, and how much of that total is interest rather than the loan itself. Three inputs go in - the amount, the annual rate, the term in years - and five figures come back. Worth being clear on what the name promises and this build does not deliver: there is no payment-by-payment schedule here, so the split between principal and interest shifting across the term is not something you can read off it. That table is what the Essentials build adds.
When this template helps
01
You have a quote in front of you and want the monthly payment and the true total cost.
02
You are comparing two offers and want to see what a different rate or term does to both.
03
You want the interest shown apart from the total paid, rather than folded into one figure.
04
You want something you can save and come back to, not a web form that forgets your numbers.
Tips to get the most out of it
The interest figure is shown apart from the total paid, because only one of the two is the cost of borrowing.
The rate is applied as fixed for the whole term, so a variable-rate loan is only approximated here.
Comparing total interest across loans of different sizes needs a common basis - a larger loan carries more by definition.
Common mistakes to avoid
Reading this as the amortization schedule. It is the summary of one - the payment-by-payment table is on the Essentials build.
Entering the monthly rate where the annual rate is asked for. The sheet derives the monthly figure itself.
Comparing total interest across loans of different sizes. Larger loans carry more interest by definition, so the comparison needs a common basis.
Assuming the payment covers everything. Insurance, fees and anything escrowed sit outside this calculation.
How to Use the Free Loan Amortization Spreadsheet Template
1
Enter the loan amount
Put in what is being borrowed. Every figure on the sheet follows from it.
2
Set the annual rate
Enter the rate the loan carries. The monthly rate is derived from it.
3
Set the term in years
The number of payments the term contains updates from this.
4
Read the results
The monthly payment, the total paid over the term, and the interest inside that total.
We use Claude AI to draft each template, after a deep research. Then our team steps in. We refine the layout, stress-test every formula, fix edge cases, and polish the design until it feels like something we would actually use ourselves. The AI gets us 80% there. The last 20% is all human judgment.
Excel
Sheets
No signup
Download instantly, no email required
Formula-driven
All calculations update automatically
Dual compatible
Works in Excel and Google Sheets
Sample data included
See the template in action right away
Frequently Asked Questions
What is the difference between the free, Essentials, and Ultimate Free Loan Amortization spreadsheet template?
Free is a single-sheet starter template with sample data and a How to Use guide. Essentials ($19) is the fuller build - more capacity, more detail, and more worked out for you rather than typed. Ultimate ($29) goes further again, usually six working sheets, giving each part of the template its own sheet and adding deeper reporting on top. What each tier holds differs by template - the comparison table on every template page lists it exactly.
Which Free Loan Amortization spreadsheet template should I download?
Upgrade to Essentials if you want a dashboard with charts, more categories, larger capacity, and a more polished spreadsheet for ongoing use. The Free version is a good fit for one-off planning or trying out the layout.
Can I upgrade the Free Loan Amortization spreadsheet template later?
Essentials is a one-time $19 purchase with no subscription. It typically adds a full dashboard, 30-50% more categories or rows than the Free version, and richer formulas. Most buyers upgrade after using the Free version for a few weeks and hitting its limits.
Is the FinancialAha Free Loan Amortization Spreadsheet Template a Google Sheets template?
Yes. Upload the file to Drive and choose "Open with Google Sheets". Nothing needs rewriting in the Free Loan Amortization Google Sheets template, and the currency dropdown still relabels the money fields.
Is the FinancialAha Free Loan Amortization Spreadsheet Template an Excel template?
Yes. The download is a plain .xlsx, so the Free Loan Amortization Excel template opens directly in Excel with no import step. There are no macros and no VBA, so it opens without a security warning.
Will the Free Loan Amortization spreadsheet Excel file open in older versions of Excel?
Yes. The Free Loan Amortization spreadsheet Excel workbook ships as a plain .xlsx, so it opens identically in current Excel and in builds that predate dynamic arrays.
Does the FinancialAha Free Loan Amortization Spreadsheet Template include the payment schedule?
No, and that is worth being plain about. This build returns the monthly payment and the totals, with no payment-by-payment table behind them. The schedule itself - every payment dated and split between principal and interest - is what the Essentials build adds.
Can the Free Loan Amortization spreadsheet template show how much of a payment goes to principal?
Not per payment in this build. You get the total interest across the whole term shown apart from the total paid, but the month-by-month split between principal and interest is on the Essentials build.
Can I model extra payments in the Free Loan Amortization spreadsheet template?
Not here. There is no extra payment field in this build. The Essentials build carries one and applies it to the balance, and the Ultimate build reports what it changes on a sheet of its own.
Is the Free Loan Amortization spreadsheet template safe to download?
Yes. No macros, no sign-up, no tracking. The file is a plain .xlsx that opens directly in Excel or Google Sheets.
How do I open the Free Loan Amortization spreadsheet template in Google Sheets?
Upload the .xlsx file to Google Drive, then open it with Google Sheets. All formulas and formatting will be preserved.
Can I use the Free Loan Amortization spreadsheet template for commercial work?
All free templates are released under CC BY 4.0 (Creative Commons Attribution). You can use, modify, and share them freely - including for commercial purposes - as long as you credit FinancialAha.com. They are provided as-is and do not constitute financial advice.
