Loan Amortization Schedule Report

Loan Amortization is the process of paying off an amortizing loan. An amortizing loan is a loan which is paid off, over the life of the loan, i.e. in installments. The installments are paid according to the terms and condition laid down in an amortization schedule. The most common example of such a loan is mortgage. Each installment of an amortizing loan has a part of principal and part interest. The loan amortization schedule report is basically a report containing the details of the payments paid during the fiscal year. It does not only show the total installments but also the split between interest and principal and the rate used to amortize the loan.

The difference between the total installments paid over the life of the loan and the initial principal constitutes the interest. This interest is amortized or spread over the life of the loan using the concept of time value of money. Therefore in common words it could be said that report is basically an annuity table. Microsoft excel offers the option to formulate a Loan Amortization schedule report using annuity formulas. However the banks use customized software which offer more detailed options designed to suit their needs

Below is the preview and download link to this Free Loan Amortization Schedule Report Template.




Download Loan Amortization Schedule Report Template


No comments.

Leave a Reply