Description
Repayment schedule of loan amount is created with this API. Repayment schedule will be displayed according to selected number of installments.
How it Works
Parameters
term: Number of Installments (must be sent in Integer format)
loan_amount: Total amount
payment_start_date: Payment start date (Must be sent in "YYYY-MM-DD" format)
Sample Request
GET {API_HOST}/api/v1/payment-plans/sample?term=4&loan_amount=10000&payment_start_date=2017-7-15
Headers:
X-IBM-client-id: {YOUR_CLIENT_ID}
X-IBM-client-secret: {YOUR_CLEINT_SECRET}
Content-Type: application/json
Sample Response
{
"data": {
"monthly_payment": 2609.69,
"term": 4,
"loan_amount": 10000,
"total_interest_amount": 268.96,
"total_repayment": 10322.76,
"total_tax_amount": 13.46,
"total_fund_amount": 40.34,
"interest_rate": 1.45,
"allocation_charge": 0,
"payment_plan": [
{
"payment_number": 1,
"payment_date": "2017-07-01",
"payment_amount": 2493.69,
"capital_amount": 2435.69,
"interest_amount": 48.33,
"tax_amount": 2.42,
"fund_amount": 7.25,
"capital_remaining": 7564.31
},
{
"payment_number": 2,
"payment_date": "2017-08-01",
"payment_amount": 2609.69,
"capital_amount": 2478.08,
"interest_amount": 109.68,
"tax_amount": 5.48,
"fund_amount": 16.45,
"capital_remaining": 5086.23
},
{
"payment_number": 3,
"payment_date": "2017-09-01",
"payment_amount": 2609.69,
"capital_amount": 2521.19,
"interest_amount": 73.75,
"tax_amount": 3.69,
"fund_amount": 11.06,
"capital_remaining": 2565.04
},
{
"payment_number": 4,
"payment_date": "2017-10-01",
"payment_amount": 2609.69,
"capital_amount": 2565.04,
"interest_amount": 37.2,
"tax_amount": 1.87,
"fund_amount": 5.58,
"capital_remaining": 0
}
],
"yearly_cost_rate": 23.0264
}
}