Excel Financial Tracker

Loan Payment Tracker

Loan payment summaryLoan payment summary

Detail Loan Payment SpreadsheetFull Loan Tracking sheet

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I found lots of Excel/tool to calculate EMI, Total amount paid and interest and principal breakup. But this is just an estimate not holds good in real world. I've developed this Excel file because I didn't find any loan tracking tool with accuracy.No existing Excel was near to real world scenario.There was no tool to track the prepayments, change in interest rate during loan tenure.

I've developed this Excel sheet for the following issues:

  • Interest change during tenure:

    This is quite normal scenario when interest rate changed from the initial interest rate. There was no tool to track this scenario. In this excel user can enter new rate and calculate the remaining payment accordingly.

  • Prepayment:

    Prepayments are done during loan tenure and this is not fixed. So it is necessary to have prepayment field for each installment. In this excel sheet user can enter prepayment amount for any installment period. If there are any prepayment charges, Please deduct charges before entering into cell. Assuming prepayment is done with EMI payment.

  • Difference between EMI and installment Amount:

    It is not always true that EMI and Installment is same. Some time borrower used to pay more than EMI, reason may be he/she wants round figure or try to pay as his/her capacity. In this case when user agreed to pay more than EMI for each installment, there is cell F:13 to enter difference amount. Example: if EMI is calculated as 13,490/- But borrower wants to pay 14000/- in each installment, he/she can put 510/- in F13 cell (14000-13490).

  • Interest Calculation:

    Almost all tool consider month with same day and interest is same. But this is not true since interest is calculated on day basis. In this Sheet interest will be calculated on day basis and loan reimbursement date may not be the same as your installment date. Example: if loan is reimbursed on 15 of Jan and you decided to start installment from 1 Feb, Means on 1 Feb you have to pay interest for 17 days.

Name Type Size Download link
Loan_Tracker.xls Excel file 1.3 MB Download