Calculate the amortization schedule for a specific loan

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Amortization Schedule Calculation Inputs

string
required

The ID of the product to which the loan belongs.

integer
required

The loan amount (in cents) excluding deferred interest and amortized fees.

integer
Defaults to 0

The amount of deferred interest (in cents) to be amortized in equal monthly payments. Interest will not be charged on this balance.

integer
Defaults to 0

The amount of fees (in cents) to be amortized in equal monthly payments. Interest will not be charged on this balance.

integer
required

Amortization length in number of cycles, e.g. am_len: 3 and cycle_interval: 1 month would amortize 3 periods of 1 month each for a total repayment across 3 months.

string

The duration of the first cycle. If not provided, defaults to the cycle_interval specified in the product configuration.

date-time
required

The date of the creation of the account.

number
required
Defaults to 0

The yearly interest rate to be charged on the loan, as a percent (i.e. 8.76 for a 8.76% yearly interest rate). If not provided, the default value is 0.

string
enum
Defaults to AM

The type of minimum payment to be calculated. AM is the default and indicates that the minimum payment will be the sum of the amortized fees, deferred interest, interest, and a portion of principal accrued during the cycle for each cycle. AM_INTEREST indicates that the minimum payment will be the sum of the interest accrued during the cycle for each cycle, and the final cycle will include repayment of all accrued interest and the full outstanding principal, fee, and deferred interest balances. If not provided, the default value is AM.

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