What Is a Balloon Payment and Extra Payments in Excel?Ī balloon payment is yet another payment that is bigger than normal at the end of the loan period. Each payment is subdivided into principal and interest, and the outstanding amount is shown after each payment.Īn amortization schedule with the balloon payment and extra payments in excel is a very necessary plan while working with the loan department. Related Articles What Is an Amortization Schedule in Excel?Īn amortization schedule is a table-format repayment plan specifying monthly bills on a loan or mortgage over a period of time.