Amortization Schedule
A table that records each repayment on a loan, how much is interest and what is left owing.
Lay out each loan payment split between principal and interest.
- Personal & business / Legal document
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Key features
The terms it is worked out on
A list of amount lent, rate, how interest is calculated, frequency, number and amount of payments, and first and last dates.
Twelve payment rows
Each with number, due date, amount paid, interest, reduction of the loan and balance.
Continuation sheets
A line recording further sheets in the same form for longer loans.
Totals over the whole loan
Total paid, of which interest, of which the amount lent.
Early, late or missed payments
A place to note what happened and work out the following rows again, and a section where both parties agree the figures.
About this document
A loan repayment schedule lists each payment on a loan: when it is due, how much is paid, how much of that is interest, how much reduces the loan and the balance afterwards. It goes with a loan agreement or promissory note, so both sides can see where the loan stands.
This blank form has twelve rows and space for further sheets. You work out and enter the figures yourself; it does not calculate them. It also says that the loan agreement or note counts if a figure and a term disagree.
Is this document right for you?
Useful when
- You lent or borrowed money in instalments
- You want a shared record of what has been paid
- A late or extra payment has changed the balance
Commonly used by
- Lenders and borrowers
- Families with an informal loan
- Small businesses with private loans
Not sure? about your situation first.
Alternatives
These are separate documents, for different jobs.
- Personal loan agreementsPut money lent between people on clear terms.View document
- Promissory notesA written promise to repay a sum of money.View document
- Debt Settlement AgreementAgree the terms on which a debt will be settled.View document
- Financial Statement (Personal)Summarize your assets, debts and income in one statement.View document
When to use this
- Setting out monthly payments on a loan from a relative
- Recording an extra payment and recalculating
- Agreeing the balance at a given date
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More in Loans & IOUs
- Financial Statement (Personal)Summarize your assets, debts and income in one statement.View document
- Personal loan agreementsPut money lent between people on clear terms.View document
- Promissory notesA written promise to repay a sum of money.View document
- Bill of SaleRecord the sale and transfer of an item from seller to buyer.View document
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Questions
About the amortization schedule
No. You or a calculator work out the figures and write them in. The form is the record.
Still have a question? .