This finance video tutorial explains how to create an amortization table in excel. Step 1: Set up your amortization table.Open a new Excel sheet and create input cells for the known components of your loan. This spreadsheet creates an amortization schedule for a fixed-rate loan, with optional extra payments. This Microsoft Excel template illustrates how to create a loan amortization schedule, as well as dealing with additional payments and variable interest rates. Use these calculator templates to help you navigate your loans, budgets, net worth, and more. Download the amortization schedule from Microsoft. 2. Open the template in Excel. 3. Loan amortization schedule green modern-simple. Believe it or not, a loan amortization spreadsheet was the very first Excel template I downloaded from the internet.