What is an amortization schedule? How does it help?

When you take out a personal loan, you are committing to not just repaying the debt, but also to repaying it within a certain time frame. A loan amortisation schedule is what it’s called. This will assist you in keeping track of the amount you pay each month in principal and interest. Always request and retain an amortisation schedule from the bank, since you may need to refer to it in the future.