Loan Repayment Schedule API

A Loan Repayment Schedule API generates detailed repayment schedules, breaking down each payment into principal and interest for various loan types.

About the API:  

A Loan Repayment Schedule API designed to facilitate the accurate calculation and management of loan amortization schedules. This API is invaluable for users who require detailed and accurate amortization schedules. The primary function of this API is to break down loan repayments into their principal and interest components over the life of the loan, providing clear and complete amortization schedules.

Amortization of a loan is the process of gradually repaying a debt over a given period through regular payments. Each payment made on a loan includes a portion that goes toward interest and a portion that reduces the principal amount. An amortization schedule provides a detailed roadmap of these payments, showing how the loan balance decreases over time.

The Loan Repayment Schedule API simplifies this process by automating the complex calculations involved. Users enter the essential loan data, such as the loan amount, interest rate, term, start date and payment frequency. The API then processes this data to generate a detailed amortization schedule that indicates each payment date, the amount of each payment, the portion of the payment that goes to interest, the portion that goes to principal, and the balance remaining after each payment.

The Loan Repayment Schedule API improves transparency and understanding of loan repayment processes. By providing a clear breakdown of each payment, it helps borrowers make informed financial decisions and manage their debts more effectively. It also enables financial institutions to offer better customer service by providing accurate and detailed loan information.

In short, the Loan Repayment Schedule API is a powerful and versatile tool that simplifies the complex loan amortization process. By automating calculations and providing detailed amortization schedules, it improves financial planning, transparency and decision making for both borrowers and lenders.

 

 What this API receives and what your API provides (input/output)?

It will receive parameters and provide you with a JSON.

 

What are the most common uses cases of this API?

  1. Mortgage Loan Calculation: Generate repayment schedules for fixed-rate and adjustable-rate mortgages.

    Auto Loans: Calculate and display repayment schedules for car loans.

    Student Loans: Help students understand their loan repayment obligations.

    Personal Loans: Provide detailed payment breakdowns for personal loans.

    Business Loans: Aid businesses in planning loan repayments and cash flow.

     

Are there any limitations to your plans?

Besides the number of API calls, there is no other limitation.

API Documentation

Endpoints


To use this endpoint you must indicate the annual interest rate, start date, number of payments and principal amount. You will also have an optional parameter where you can indicate the payment interval (year, month, week, biweekly).



                                                                            
GET https://zylalabs.com/api/4168/loan+repayment+schedule+api/5041/calculate+repayment
                                                                            
                                                                        

Calculate Repayment - Endpoint Features

Object Description
annualInterestRate [Required]
startDate [Required]
installmentCount [Required]
principalAmount [Required]
repaymentInterval [Optional]
Test Endpoint

API EXAMPLE RESPONSE

       
                                                                                                        
                                                                                                                                                                                                                            [{"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}]
                                                                                                                                                                                                                    
                                                                                                    

Calculate Repayment - CODE SNIPPETS


curl --location --request GET 'https://zylalabs.com/api/4168/loan+repayment+schedule+api/5041/calculate+repayment?annualInterestRate=0.07&startDate=2020-01-02&installmentCount=12&principalAmount=100000&repaymentInterval=month' --header 'Authorization: Bearer YOUR_API_KEY' 


    

API Access Key & Authentication

After signing up, every developer is assigned a personal API access key, a unique combination of letters and digits provided to access to our API endpoint. To authenticate with the Loan Repayment Schedule API REST API, simply include your bearer token in the Authorization header.
Headers
Header Description
Authorization [Required] Should be Bearer access_key. See "Your API Access Key" above when you are subscribed.

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Loan Repayment Schedule API FAQs

To use this API users must indicate the amount and terms of payment.

The Loan Repayment Schedule APII calculates and generates detailed loan amortization schedules. It breaks down each loan payment into its principal and interest components over the life of the loan, providing a clear and complete amortization schedule.

There are different plans to suit all tastes, including a free trial for a small number of requests, but your rate is limited to avoid abuse of the service.

Zyla provides a wide range of integration methods for almost all programming languages. You can use these codes to integrate with your project as you need.

You might need a Loan Repayment Schedule API to automate and streamline the process of creating loan amortization schedules. This is useful for providing accurate, detailed repayment plans to borrowers, improving financial transparency, and enhancing customer service.

The Calculate Repayment endpoint returns a JSON array containing detailed repayment schedules. Each entry includes the payment date, interest amount, principal amount, total payment, and remaining balance after each payment.

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 a JSON array, with each object representing a payment period. Each object contains fields for date, interest, principal, payment, and balance, allowing users to easily track loan repayment progress.

Users can specify parameters such as annual interest rate, start date, number of payments, principal amount, and an optional payment interval (year, month, week, biweekly) to customize their repayment schedule.

Users can analyze the returned data to understand their repayment obligations, track how much of each payment goes toward interest versus principal, and plan their finances accordingly. This helps in making informed decisions about loan management.

The endpoint provides information on each payment's breakdown, including the total payment amount, interest and principal portions, and the remaining balance after each payment, giving a comprehensive view of the loan repayment process.

Data accuracy is maintained through precise calculations based on the input parameters provided by users. The API uses standard amortization formulas to ensure that the generated schedules reflect accurate repayment details.

Typical use cases include generating repayment schedules for mortgages, auto loans, student loans, personal loans, and business loans. It helps borrowers understand their payment obligations and assists lenders in providing detailed loan information.

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