Understanding A Loan Amortization Schedule

What Is a Loan Amortization Schedule?

A Loan Amortization Schedule's main focus is to spread out loan payments over time. If an employee has requested a loan; the loan must be repaid through payroll deduction or paid out in full through a lump sum. 

An amortized loan is one where the principal of the loan is paid down according to an amortization schedule, typically through equal monthly installments.

Once an employee’s loan has been approved they will receive an email with their loan amortization schedule. 

The loan amortization schedule will contain the following: 

  • Employee details. 
  • Loan ID.
  • Initial Loan Amount.
  • Interest Rate.
  • Deduction Frequency.
  • Current Balance.
  • Payment Amount.

Employees will be able to view their future payment dates, amounts, interest, ending balances, etc. 

Where Do I Find My Employee's Loan Amortization Schedule? 

To find an employee’s loan amortization schedule, simply: 

  1. From your Vestwell employer portal, select the ‘Employee’s’ tab
  2. Select the employee you are looking for
  3. Select the loans tab
  4. Click on the ‘Live loan’ highlighted in blue 
  5. A side menu will display; select ‘View Payment Schedule.’ 


This allows you to download your employee's payment schedule for review.

What does the Loan Amortization Schedule contain?

An employee loan amortization schedule contains the following:

  • Employee details - employee ID and name. 
  • Loan ID - assigned loan ID.
  • Initial Loan Amount - total loan amount requested.
  • Interest Rate - the amount of interest due.
  • Deduction Frequency - how often an employee gets their loan payment deducted from their paycheck.
  • Current Balance - most current loan balance. 

You will also see a breakdown of each payment date, the payment amount, applied interest rate, principal amortized, and the employee’s ending balance after each payment date is met. 



If you have any questions please contact us at clientsuccess@vestwell.com