Loan Amortization Schedule | with Variable (Changing) Interest Rate | Excel 

This is really good, thank you so much!

So if we wanted the spreadsheet to handle ad hoc extra payments and interest only periods? Add column for extra payment between "Capital" and "Balance" columns, then add any value in that new column to the "capital payment" to deduct from the balance each period? If there is an interest only period, manually delete the "capital" portion of each payment where that applies, so only interest is paid, and the balance does not reduce at all during those periods? Would that work?

Thanks a lot for this. What if my schedule balances do not agree to the bank's amortization schedule, i.e. loan balances at the end of each period do not agree (could be due to timing differences because interest rate changes are done during the month - not at the beginning or end)... How do I account for the differences or else how do I ensure that my balances agree to the bank's. By the way, in order to avoid dragging down the formula for the interest rate column everytime the rate changes, I create a formula saying the interest rate in the period I'm looking at is equal to interest rate in the previous period (in your schedule for example, I would have made cell C13 = C12, then drag down the formula to C252. So every time your rate changes, the cells below the changed month will automatically change as well. Ta.

If Extra payment ?If only interest receive?