Use this Excel-based template for creating an amortization schedule for your home loan. It allows you to visualize the monthly and yearly evolution of interest and principle components and the balance of the loan.

It can accommodate regular (monthly, quarterly, bi-annual and annual) and irregular (random months) pre-payment schedules.

It can also handle a loan disbursement schedule and allows variation of interest rate.

**Download the Home Loan Amortization Schedule Template**

If you are wondering if you should pre-pay or invest use this **calculator**

Also see: Home Loan Transfer Calculator: Check Benefits of Switching from Base Rate To MCLR

Do let me know if any improvements can be made.

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Hello sir, how to use this calculator for govt servant’s HBA where only principal is deducted with the maximum of 180 instalments. The int is calculated to be repaid in maximum of 60 instalments. Felix

You will have to study the sheet and modify it yourself.

What I wanted to know is in my case only principal is deducted initially. Only after that interest is calculated. Both of them aren’t deducted simultaneously. In that situation, how to use the calculator.

Yes I understood what you mean. This calculator can be used only if you know how the interest needs to be paid. You will have to make the necessary modifications yourself if possible.

Hello sir, how to use this calculator for govt servant’s HBA where only principal is deducted with the maximum of 180 instalments. The int is calculated to be repaid in maximum of 60 instalments. Felix

You will have to study the sheet and modify it yourself.

What I wanted to know is in my case only principal is deducted initially. Only after that interest is calculated. Both of them aren’t deducted simultaneously. In that situation, how to use the calculator.

Yes I understood what you mean. This calculator can be used only if you know how the interest needs to be paid. You will have to make the necessary modifications yourself if possible.

Pattu Sir,

your calculators are a reason for joy and sorrow sometimes 🙂 this falls in the latter category.

this actually tells me how to reduce my overall Interest outgo visually… brilliant..

Super simplified.

One question

1. Month where you have put as 0 , 1 2 etc, can be changed to reflect the date of EMI? so that tracking is easier..

thanks.

Sorry typo.. it should be “former category”

Thanks. Yes the date of EMI can be used but I dont see how it will make a difference unless I do a daily interest calculation.

Pattu Sir,

your calculators are a reason for joy and sorrow sometimes 🙂 this falls in the latter category.

this actually tells me how to reduce my overall Interest outgo visually… brilliant..

Super simplified.

One question

1. Month where you have put as 0 , 1 2 etc, can be changed to reflect the date of EMI? so that tracking is easier..

thanks.

Sorry typo.. it should be “former category”

Thanks. Yes the date of EMI can be used but I dont see how it will make a difference unless I do a daily interest calculation.

Examine the simple arithmetic formula,

892=769 + 123

Hence, 50 X 892 = 50 x (769 + 123)

What is this?

a) Banker accepts 50 lakhs , from an “ANNUITANT”, monthly annuity being 769 per lakh for 360 months. Total per month is 38450.

b) Banker pays this amount (50 lakhs), to a house builder, obtains keys and documents of the house.

c) Banker hands over the keys to the borrower, keeps the documents with Bank.The borrower is to pay 892 per lakh for 360 month, i.e., 44600/-

d) The banker gets 44600 – 38450 = 6150 per month for 360 months. Take this as fees of the banker.

In other words, Bank accepts Annuity deposit at 769 per lakh for 360 months and lends at 892 per lakh for 360 months, thereby pocketing a fees of 123 per lakh for 360 months.

Examine (a) to (b). THERE IS NO MENTION OF THE WORD” INTEREST” OR “PRINCIPAL”.

NOW READ THE FOLLOWING EXPLANATIONS.

Entire mankind knows that earth is filled with 2/3 of water and 1/3 of land.

So what? Nobody is worried.

LOOK AT THE VICIOUS AMORTISATION SCHEDULE.

The interest component is around 2 times that of the principal. THIS IS A MATTER OF WORRY.

Now the question is what is the need of viewing the interest or principal content?

Amortisation schedule is not for the Annuitant or Borrower.

Amortisation schedule is a “UTILITY” for the taxman and tax consultant.

In the case of Annuitant, TDS and tax liability of interest component is ascertained by the tax man and tax consultant.

In the case of Borrower, the interest component and Principal component is used to arrive the benefits of TAX exemptions by the same taxman and tax consultant.

DEAR BORROWER, why not evade or avoid THE VICIOUS AMORTISATION CHART

THINK IT OVER AND OVER. SLEEP WELL.

Final message: ‘ SIMPLICITY IS BETTER THAN COMPLEXITY”

veearess

Examine the simple arithmetic formula,

892=769 + 123

Hence, 50 X 892 = 50 x (769 + 123)

What is this?

a) Banker accepts 50 lakhs , from an “ANNUITANT”, monthly annuity being 769 per lakh for 360 months. Total per month is 38450.

b) Banker pays this amount (50 lakhs), to a house builder, obtains keys and documents of the house.

c) Banker hands over the keys to the borrower, keeps the documents with Bank.The borrower is to pay 892 per lakh for 360 month, i.e., 44600/-

d) The banker gets 44600 – 38450 = 6150 per month for 360 months. Take this as fees of the banker.

In other words, Bank accepts Annuity deposit at 769 per lakh for 360 months and lends at 892 per lakh for 360 months, thereby pocketing a fees of 123 per lakh for 360 months.

Examine (a) to (b). THERE IS NO MENTION OF THE WORD” INTEREST” OR “PRINCIPAL”.

NOW READ THE FOLLOWING EXPLANATIONS.

Entire mankind knows that earth is filled with 2/3 of water and 1/3 of land.

So what? Nobody is worried.

LOOK AT THE VICIOUS AMORTISATION SCHEDULE.

The interest component is around 2 times that of the principal. THIS IS A MATTER OF WORRY.

Now the question is what is the need of viewing the interest or principal content?

Amortisation schedule is not for the Annuitant or Borrower.

Amortisation schedule is a “UTILITY” for the taxman and tax consultant.

In the case of Annuitant, TDS and tax liability of interest component is ascertained by the tax man and tax consultant.

In the case of Borrower, the interest component and Principal component is used to arrive the benefits of TAX exemptions by the same taxman and tax consultant.

DEAR BORROWER, why not evade or avoid THE VICIOUS AMORTISATION CHART

THINK IT OVER AND OVER. SLEEP WELL.

Final message: ‘ SIMPLICITY IS BETTER THAN COMPLEXITY”

veearess

I am not a very excel savvy person ans especially around such ‘heavy-duty’ excels loaded with formulas. Hence asking you as I see the following improvements –

a) EMI calculation should be editable and considered for further calculations (Cell B7). If I change this now, other calculations don’t seem to change. Most importantly B22 and B23 (Month / Year when loan will be closed).

b) For floating rates column, currently it seems to be set at 10%, needs to allow 2 decimal places and thereon considered for further calculations – link it with a) above.

Thanks!

Ashish Kumar Saxena

AIFW