Forum Discussion

David250's avatar
David250
Copper Contributor
May 12, 2020

6 month repayment holiday at start of Loan Amortization

I am building a loan repayment schedule using the Microsoft template "Loan Amortization Schedule" and all ok as my loan is standard features, except I have 6 months payment holiday at the start of th...
excel
bhushan_z's avatar
bhushan_z
Iron Contributor
May 12, 2020
can u pls share the file?
u may remove ur confidential data, like loan amount, interest %, etc.
  • bhushan_z's avatar
    bhushan_z
    Iron Contributor
    May 15, 2020

    David250 refer attached file.

     

    Notes:

    1) Added new sheet - "Modified" (kept original sheet)

    2) Added new parameter, 'Payment holidays (months)' at row #8

    3) I have assumed that, u will have to pay interest amount even during holiday period

    • TomRevel's avatar
      TomRevel
      Copper Contributor
      Aug 03, 2022

      bhushan_z thanks for this great work. 

       

      Can you please explain why there is still a figure in the "Principal" column before "Payment Holiday" months have been reached?

    • Anyeyure's avatar
      Anyeyure
      Copper Contributor
      Nov 26, 2021

      bhushan_z Your assumption is if you pay interest during the moratorium. What if you don't pay anything during the moratorium?

    • dhan3105's avatar
      dhan3105
      Copper Contributor
      Jun 02, 2020
      Hello @bhusan_Z .

      I have similar requirment. But I want add the parament of Date for those month For Example :
      Loan amount $50,000.00
      Annual interest rate 3.59%
      Loan period in years 1
      Number of payments per year 12
      Start date of loan 01/01/2020
      Payment Holiday Date start from: 01/05/2020
      Payment holiday (months) 3
      Example : https://www.bankofscotland.co.uk/mortgages/existing-customers/halifax-payment-holiday-calculator.html
      Many Thanks
      Dan
      • dhan3105's avatar
        dhan3105
        Copper Contributor
        Jun 02, 2020

        Hi expert can someone  assit me on this I want to incorporate Payment Holiday Date start from: 01/05/2020 and end 30/7/2020
        Payment holiday (months) 3. I have also attached as an example

         

        Many Thanks

        Dhan

Resources