A fixed-rate loan with an interest-only option is fairly simple to understand and predict, but interest-only mortgages with adjustable rates seem much more risky. I can't answer that for you, but I would strongly recommend reading through the material listed in the references below. If you want to include extra payments, you enter them in the amortization table.īe sure to read the comments within the file (marked with a little red triangle on some of the cells) if you have questions. Simply enter your loan information in the cells with the white background and everything else is calculated automatically. Our spreadsheet should be pretty intuitive to use. We've also made a few cosmetic changes and updated comments and help info.Ī commercial use version of this Interest-Only Loan calculator is included as a bonus spreadsheet when you purchase the Loan Amortization Schedule. Update : The main XLSX version for Excel 2007+ has been updated to allow duplicating the loan worksheet (for comparing different loans within the same workbook). That is, the monthly EMI is Rs 38,591 per month (in EMI). You can use this credit card payoff calculator template to adjust payments and see how long it. We get, PMT (0.006667, 300, 5000000) Rs 38,591. Use this accessible credit card payoff calculator template to calculate the number of months required to repay your credit card balance in full and the total interest that you would pay based on the payments you set. Loan Tenure in Months 25 years 12 300 months. Using the following values in the PMT formula in excel: Loan Amount Rs 50 lakh.

It will work for an interest-only loan or interest-only mortgage. This is the loan EMI calculator excel sheet formula. This spreadsheet creates an amortization schedule for a fixed-rate loan, with optional extra payments and an optional interest-only period.

Make amortization schedule in excel