About the API:
Amortization is paying off a debt over time in equal installments. Part of each payment goes toward the loan principal, and part goes toward interest. As the loan amortizes, the amount going toward the principal starts out small, and gradually grows larger month by month. In an amortization schedule, you can see how much money you pay in principal and interest over time. Use this calculator to input the details of your loan and see how those payments break down over your loan term.
Pass the loan details to this API, and receive a breakdown of all the installments that will be paid to amortize the Loan.
This API is great for those who want to create a web loan amortization calculator.
Great for companies that lend money and they want to provide their user with installment information before they decide to apply for the loan.
Besides API call limitations per month, there is a limitation of 1 request per second.
Return a detailed loan repayment schedule.
Calculate Repayment - Endpoint Features
| Object | Description |
|---|---|
annualInterestRate |
[Required] |
startDate |
[Required] |
installmentCount |
[Required] |
principalAmount |
[Required] |
repaymentInterval |
[Required] |
[{"date":"2020-01-02","interest":5.833333333333334,"principal":8330.660060136574,"payment":8336.493393469907,"balance":91669.33993986342},{"date":"2020-02-02","interest":5.3473781631587,"principal":8331.14601530675,"payment":8336.493393469907,"balance":83338.19392455668},{"date":"2020-03-02","interest":4.86139464559914,"principal":8331.631998824309,"payment":8336.493393469907,"balance":75006.56192573237},{"date":"2020-04-02","interest":4.375382779001056,"principal":8332.118010690907,"payment":8336.493393469907,"balance":66674.44391504147},{"date":"2020-05-02","interest":3.8893425617107527,"principal":8332.604050908196,"payment":8336.493393469907,"balance":58341.839864133275},{"date":"2020-06-02","interest":3.4032739920744413,"principal":8333.090119477833,"payment":8336.493393469907,"balance":50008.74974465544},{"date":"2020-07-02","interest":2.9171770684382343,"principal":8333.576216401469,"payment":8336.493393469907,"balance":41675.173528253974},{"date":"2020-08-02","interest":2.4310517891481487,"principal":8334.06234168076,"payment":8336.493393469907,"balance":33341.11118657322},{"date":"2020-09-02","interest":1.9448981525501046,"principal":8334.548495317358,"payment":8336.493393469907,"balance":25006.56269125586},{"date":"2020-10-02","interest":1.4587161569899252,"principal":8335.034677312917,"payment":8336.493393469907,"balance":16671.52801394294},{"date":"2020-11-02","interest":0.9725058008133384,"principal":8335.520887669094,"payment":8336.493393469907,"balance":8336.007126273847},{"date":"2020-12-02","interest":0.4862670823659745,"principal":8336.007126387542,"payment":8336.493393469907,"balance":-1.1369411367923021e-7}]
curl --location --request GET 'https://zylalabs.com/api/771/loan+amortization+calculator+api/506/calculate+repayment?annualInterestRate=0.07&startDate=2020-01-02&installmentCount=12&principalAmount=100000&repaymentInterval=month' --header 'Authorization: Bearer YOUR_API_KEY'
| Header | Description |
|---|---|
Authorization
|
[Required] Should be Bearer access_key. See "Your API Access Key" above when you are subscribed. |
No long-term commitment. Upgrade, downgrade, or cancel anytime. Free Trial includes up to 50 requests.
The Calculate Repayment endpoint returns a detailed loan repayment schedule, including installment breakdowns for each payment period. This includes the amount paid towards interest, principal, total payment, and remaining balance for each installment.
The key fields in the response data include "date" (payment date), "interest" (interest portion of the payment), "principal" (principal portion), "payment" (total payment amount), and "balance" (remaining loan balance after the payment).
The response data is organized as an array of objects, where each object represents a payment period. Each object contains fields for date, interest, principal, payment, and balance, allowing users to easily track loan amortization over time.
Users can customize their data requests by providing parameters such as loan amount, interest rate, loan term, and payment frequency. These parameters allow for tailored calculations based on specific loan details.
The endpoint provides information on the amortization schedule, including how much of each payment goes towards interest and principal, the total payment amount, and the remaining balance after each installment.
Users can analyze the returned data to understand their loan repayment structure, identify how payments change over time, and plan their finances accordingly. This information is crucial for budgeting and financial decision-making.
Typical use cases include creating online loan calculators for consumers, providing lenders with detailed repayment schedules for potential borrowers, and integrating into financial planning tools to help users manage their debts effectively.
Data accuracy is maintained through rigorous calculations based on standard amortization formulas. The API ensures that all calculations adhere to financial principles, providing reliable and consistent repayment schedules.
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