Use our Excel template to plan compound growth. Enter a starting balance. Set the rate and the compounding period. Add contributions and an inflation rate. See future value, real return, totals, and a dated schedule. Compare plans side by side.
Free Loan Calculators (Excel, Google Sheets)
Accurate calculations are the cornerstone of smart financial planning. Having clarity on what you can afford each month when you want to apply for any kind of loan will make everything much easier.
But let’s be honest: loan calculations are not easy, especially with the complex financial jargon involved. What if you could get an easy-to-use Excel-based template that can do all the math for you?
This collection of loan calculator templates at WordLayout lets you calculate your repayments, total interest, and overall financial commitments without having to become a finance wizard. From mortgage to car loan to line of credit calculators, this template collection is a go-to resource to help you confidently make decisions.
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Calculate daily interest on a simple loan in Excel. Enter amount, rate, term, start date, and payment frequency. The sheet computes daily interest by days between payments, builds a schedule, tracks totals, and supports extra payments and rounding.
Plan a boat loan with this calculator. Enter price, rate, term, and start date. See payment and interest. Add taxes and fees. Apply trade-in credits or rebates. Build a full schedule. Compare lenders and track payoff with charts.
Enter your home value, mortgage balance, CLTV cap, rate, term, and start date. The Excel sheet computes how much you can borrow, payment per period, totals, and payoff date. It also models extra payments and property appreciation.
Use this template to plan a daily compounding loan. Enter amount and rate. Set the term and start date. See each payment and interest added by day. Turn rounding on or off. Test extra payments. Compare terms on a benchmark sheet.
Use this template to plan any simple-interest loan. Enter amount, rate, term, and payment frequency. Choose flat or reducing. See each payment, total interest, and payoff date. Build a full schedule, compare scenarios, and track multiple loans.
Plan an interest-only loan with our template. Enter amount, rate, term, and IO period. See IO payment, the switch to amortizing payments, and total interest. Build a full schedule, test what-ifs, and manage multiple loans.
Use this calculator to plan a balloon loan from day one. Enter the amount, rate, and term. See monthly payments, the final lump-sum balloon payment, and total interest. Build a full schedule. Compare what-if scenarios. Track multiple loans in one file.
Enter your credit limit and starting balance. Log each draw and repayment. The tracker computes daily interest per entry, updates running balance, separates interest accrued vs paid, flags limit overages, supports rate changes, shows a simple chart, and prints a clean summary. With rounding on/off.
Enter credit limit, draw period, repayment term, rate type, frequency, and starting balance. The sheet projects interest-only vs repayment and builds a dated schedule. It splits principal and interest, models rate changes, supports extra payments, offers rounding on/off, and compares scenarios.
Enter price, down payment, taxes, rate, term, and payment frequency. It calculates the payment, splits principal and interest, builds a dated schedule and amortization table, supports flat or reducing interest, extra payments, trade-in or rebates, and shows totals and last payment date.
The template calculates loan payments based on amount, interest rate, term, frequency, and compounding. It breaks down each payment into principal and interest, shows total interest paid, handles rounding, and adjusts final payments.
Getting a loan seems like an easy solution when you are short of money. But it is a serious commitment that can affect your finances today and in the future. Understanding the long-term impact of borrowing is important when you decide to go for any kind of loan, whether it is a line of credit or something as significant as a mortgage.
What is a loan?
A loan is a financial instrument that provides capital to the borrower. It means that a lender, such as a bank or financial institution, gives you an amount of credit with an agreement that it will be paid at a later stage. It is usually repaid in installments.
The repayment, however, also includes some interest in addition to the principal amount. Mortgages, auto loans, personal loans, lines of credit, and business loans are all examples of various types of loans.
Components of a Loan
So now that we have an idea of what a loan is, let us see some essential parts that define how much you’ll borrow, pay back, and owe over time.
- Principal amount: This is the original amount that you have borrowed. So, if you borrowed $20,000 for a car, the $20,000 will be called the principal amount.
- Interest: The interest is the cost of borrowing. This is the amount that you have to pay in addition to the principal amount. Interest depends on various factors and is expressed as an annual percentage rate (APR).
- Term or Loan Duration: The period that you have to repay the loan is called the loan term or loan duration. Loan term is usually expressed in months or years.
- Monthly Payments or Installments: The repayment of the loan is spread over multiple periods, usually expressed in months. It includes the principal and the interest. Each month you pay off a portion of the loaned amount plus interest till all debt is paid off.
- Additional fees: Besides the principal and the interest, loan disbursements also include other fees. These could be administrative charges, penalties for late payment, origination fees, etc.
- Collateral: Collateral is something that a borrower pledges to secure a loan. If a borrower fails to make repayments, the lender can recover the loaned amount by selling the collateral.
Types of Loans
Loans are of different types, and their costs depend on the nature of the loan and its purpose. For more clarity, we will split them into two categories: secured and unsecured, and revolving vs. term loans.
Secured vs Unsecured Loans
Collateral is used to protect the lender from losses. Such a loan is called a secured loan because the amount is protected in case of default by the borrower. The collateral is usually the asset for which the loan is taken out, such as the house for a mortgage. Secured loans are usually long-term and have a lower interest rate.
An unsecured loan is not backed by any valuable asset. Because such loans have a higher risk, they are offered at a higher interest rate. These loans are not always easy to obtain. A credit card is an example of such a loan. Usually, a credit card application will not be entertained from someone who has a poor credit history, or if extended, it will be offered at a very high interest rate.
Revolving vs Term Loans
Loans are also differentiated on the basis of how credit is made available to the borrower. If the credit access is continual, it is referred to as a revolving credit facility. This flexible arrangement allows businesses to borrow, spend, and repay, and then borrow again in an agreed-upon period. However, the downside is that it has a varying interest rate that fluctuates with market conditions, often higher than other types of loans.
Extending such a facility requires full scrutiny of the health of the business or an individual’s credit history. Banks examine income statements, cash flow statements, and balance sheets for businesses. For individual borrowers, their credit history, income, and debt-to-income ratio are assessed.
The opposite of a flexible line of credit facility is a fixed-term loan. These loans are a lump sum upfront payment with certain terms and conditions. Small businesses often use term loans for needs like purchasing machinery, building new premises, or buying fixed assets. Term loans can have a fixed or variable interest rate and are usually repaid through monthly or quarterly payments.
Understanding Interest
One term always present in any discussion of any type of loan is the interest rate. Now, let us understand what is meant by an interest rate and why it is critical to consider when borrowing money.
The concept of interest is perhaps best explained by John Keynes. According to him, the rate of interest is the reward for parting with liquidity for a specified period of time.
Simply put, interest is the amount given to the lender as a reward for taking the risk of lending money and sacrificing the chance of using it. Higher-risk loans usually carry a higher interest rate.
Types of Interest Rates
Fixed Interest Rate
The interest rate remains the same throughout the life of the loan. It has predictable monthly payments.
Example: A $20,000 car loan at a fixed 6% annual rate means your payments won’t change for the loan term.
Variable (or Adjustable) Interest Rate
The interest rate can change over time, often tied to a benchmark like the prime rate. Payments can rise or fall as the benchmark changes.
Example: A HELOC with a variable rate of 5% could increase to 6% if the benchmark rises, increasing your payments.
Simple Interest
Interest is calculated only on the principal amount, not on accumulated interest.
Example: Borrow $10,000 at 5% simple interest for one year. Interest = $500. Total repayment = $10,500.
Compound Interest
Interest is calculated on both the principal and any previously accumulated interest. It increases the total loan cost.
Example: Borrow $10,000 at 5% annual compound interest. After one year, Total = $10,500. If compounded monthly, the total interest would be slightly higher.
Why use the loan calculator templates
Securing a loan requires financial planning, and there are many factors to consider. Different interest rates, repayment terms, and loan types affect your liabilities and their impact on your future.
These loan calculator templates are embedded with formulas and automation. By entering the loan amount, interest rate, and repayment term, the templates instantly calculate monthly payments, total interest, and generate a full amortization schedule.
Our collection of loan calculator templates features multiple templates for various kinds of loans and simplifies this process. Some benefits include:
- You can test various scenarios by entering different interest rates, loan terms, or extra payments and see how they affect costs.
- Each template clearly shows the principal and interest position after each repayment, which helps in financial planning.
- You can use them offline and customize them according to your situation.
Whether it is a mortgage, auto loan, balloon payment, or line of credit, our loan calculator templates help you see accurate calculations and manage your money wisely. Download these Excel loan calculator templates today.
FAQs
What formats are available for these templates?
These loan collectors are available in Microsoft Excel, Google Sheets, and ODS formats.
What types of loan templates are included in this collection?
This comprehensive collection covers a wide range of loan calculators for both businesses and individuals. It includes templates for auto loans, mortgages, home equity loans, Home equity lines of credit (HELOCs), balloon loans, boat loans, lines of credit trackers, daily simple interest loans, and compound interest calculations.
We regularly update our template collection, so if you do not find what you are looking for right now, check back later, and you will find it.
Do the templates include charts?
Yes. These templates include charts and visualizations, such as principal vs. interest breakdowns, repayment timelines, and balance tracking to help you see loan dynamics at a glance.
