The Repayment Projection API is designed to train users in developing applications that provide complete loan repayment schedules. Whether building a financial planning tool, banking interface, or loan management system, this API provides vital functionality to accurately calculate and visualize loan repayment schedules.
A notable feature of the Repayment Projection API is its ability to generate complex loan amortization schedules based on user-defined parameters. Users can enter crucial loan details such as principal amount, interest rate, loan term, and repayment frequency to accurately calculate the repayment schedule. This capability allows users to understand the breakdown of their loan payments over time, covering the distribution of principal and interest components.
In terms of integration, the Repayment Projection API offers seamless integration paths for users. With its intuitive endpoint and comprehensive documentation, users can seamlessly integrate the API into their applications with minimal friction.
At its core, the Repayment Projection API equips users with a robust set of tools to create applications with complete loan repayment functionality. With its precision calculations, adaptable customization options, and effortless integration capabilities, the API enables users to create innovative financial applications tailored to diverse user requirements in the realm of lending and financial services.
To use this endpoint you must indicate the annual interest, start date, installments and principal amount in the parameters.
Calculate Payments - Endpoint Features
Object | Description |
---|---|
startDate |
[Required] Indicates start date |
installmentCount |
[Required] Indicates payment installments |
principalAmount |
[Required] Indicates an amount |
annualInterestRate |
[Required] Indicates anual interest rate |
[{"date":"2023-06-15","interest":41.666666666666664,"principal":814.4081512180071,"payment":856.0748178846737,"balance":9185.591848781993},{"date":"2023-07-15","interest":38.27329936992497,"principal":817.8015185147488,"payment":856.0748178846737,"balance":8367.790330267244},{"date":"2023-08-15","interest":34.86579304278018,"principal":821.2090248418936,"payment":856.0748178846737,"balance":7546.58130542535},{"date":"2023-09-15","interest":31.444088772605625,"principal":824.6307291120681,"payment":856.0748178846737,"balance":6721.950576313282},{"date":"2023-10-15","interest":28.00812740130534,"principal":828.0666904833683,"payment":856.0748178846737,"balance":5893.883885829913},{"date":"2023-11-15","interest":24.557849524291306,"principal":831.5169683603824,"payment":856.0748178846737,"balance":5062.366917469531},{"date":"2023-12-15","interest":21.093195489456377,"principal":834.9816223952173,"payment":856.0748178846737,"balance":4227.385295074313},{"date":"2024-01-15","interest":17.61410539614297,"principal":838.4607124885308,"payment":856.0748178846737,"balance":3388.9245825857824},{"date":"2024-02-15","interest":14.120519094107427,"principal":841.9542987905663,"payment":856.0748178846737,"balance":2546.9702837952163},{"date":"2024-03-15","interest":10.612376182480068,"principal":845.4624417021937,"payment":856.0748178846737,"balance":1701.5078420930226},{"date":"2024-04-15","interest":7.0896160087209275,"principal":848.9852018759528,"payment":856.0748178846737,"balance":852.5226402170698},{"date":"2024-05-15","interest":3.552177667571124,"principal":852.5226402171027,"payment":856.0748178846737,"balance":-3.285549610154703e-11}]
curl --location --request GET 'https://zylalabs.com/api/5458/repayment+projection+api/7081/calculate+payments?startDate=2023-06-15&installmentCount=12&principalAmount=10000&annualInterestRate=5' --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. |
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Users must indicate the annual interest rate, start date, installment count and principal amount in order to use this API.
The Repayment Projection API designed to help users build applications that offer comprehensive loan amortization schedules.
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The Repayment Projection API provides loan details, including payment dates, interest, principal, total payment, and remaining balance.
The Calculate Payments endpoint returns a detailed loan amortization schedule, including payment dates, interest amounts, principal amounts, total payments, and remaining balances 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).
The response data is organized as an array of objects, each representing a payment period with fields for date, interest, principal, payment, and balance, allowing users to easily iterate through the payment schedule.
Users can customize their requests by providing parameters such as annual interest rate, start date, number of installments, and principal amount to generate tailored repayment schedules.
Users can analyze the breakdown of each payment to understand how much goes towards interest versus principal, track remaining balances over time, and visualize the amortization process for better financial planning.
Typical use cases include developing financial planning tools, banking applications, and loan management systems that require detailed insights into loan repayment schedules and amortization.
Data accuracy is maintained through precise calculations based on user-defined parameters, ensuring that the generated amortization schedules reflect the correct financial scenarios as per the input values.
Users can expect a consistent pattern in the data, where each installment shows decreasing interest amounts and increasing principal payments, culminating in a zero balance at the end of the loan term.
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