Download a spreadsheet for analyzing and tracking a Daily Compounding Loan. This calculator is based on our simple interest loan calculator, which accrues interest on a daily basis and allows you to track your payments by entering the actual dates and amounts paid. However, in the spreadsheet on this page, interest compounds daily AND unpaid interest is added to the principal balance.


Important: Unless you are absolutely sure that you have a daily compounding loan, do not use this spreadsheet. Vertex42 provides many different loan calculators, but they are all designed for specific types of loans and it is important that you don't use the incorrect one.

Daily Compounding Loan Calculator

for Excel
Simple Interest Loan Calculator
For: Excel 2007 or later & Excel for iPad/iPhone

Template Details

License: Personal Use Only
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(not for distribution or resale)
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"No installation, no macros - just a simple spreadsheet" - by



This spreadsheet includes two different worksheets. The first one lets you create an estimated amortization schedule for a daily compounding loan, with assumptions such as payment frequency, interest rates, etc.

The second worksheet shown in the image to the right lets you enter actual payment dates and amounts. It is important to realize that with this spreadsheet, payments that do not cover the interest due will result in the interest being added to the principal.


  • Online Loan Calculator at - This calculator has an option for daily compounding. From what I can tell, it assumes a 360-day year and the date you enter for the Loan Date is one day prior to what you would enter as the "First Day Interest Accrues" in the above spreadsheet.
  • Negative Amortization at - Read this article if you are planning to use the above spreadsheet. Negative amortization (paying interest on interest) applies here because the compound period (daily) is shorter than the payment period (monthly).
Disclaimer: The information and content on this page is for educational purposes only. We do not guarantee the results or the applicability to your unique financial situation. You may need to seek the advice of qualified professionals regarding financial decisions.