The world is full of imbalance in the financial standings of people and companies. Some people may have more money than the others. Those with less money may not be able to pay for all their needs and requirements. In such situations, the people with excess money or funds will help them provide the money that they need. When one party borrows money from another party in return for some interest payment the transaction is called a loan.
The Same scenario is true for the business organizations. This means that some organizations especially financial institutions like banks lend funds to borrowing companies and individuals and ask a return in the form of interest payment. This amount is most known as a loan.
Loans may be taken for different causes and purposes. But whatever the need or purpose be, every loan has a cost. This is the interest payment. The borrower has to pay the interest payment on a regular basis. This may be specific periods of time or intervals. For every loan, there is a loan payment schedule which is given to the borrower. This way the borrower can know exactly when he has to make the payment for the loan installment and how much is the payment.
The loan payment schedule template is mostly given by the lender or financial institutions like banks. It is a very useful document that is equally advantageous for the borrower and the lender for record keeping and information.
Loan Payment Schedule Template
Microsoft Excel document file | File size 177 KB | Download
The file can be download in OpenOffice format (.ods)
File size 39 Kb | Download