Loan Amortization Calculator API

API ID 771

This API will calculate the repayment installments for any loan that you pass to it.

100% uptime 283 ms avg response

API Documentation

Endpoints

Request

Return a detailed loan repayment schedule. 

Endpoint ID: 506
GET https://zylalabs.com/api/771/loan+amortization+calculator+api/506/calculate+repayment
INPUT PARAMETERS

Calculate Repayment — Endpoint Features

Object Description
annualInterestRate Required
startDate Required
installmentCount Required
principalAmount Required
repaymentInterval Required

Free test requests remaining: 3 of 3.


INPUT PARAMETERS

annualInterestRate
startDate
installmentCount
principalAmount
repaymentInterval
API EXAMPLE RESPONSE
JSON
[{"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/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' 


    

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 Amortization Calculator 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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Overview

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. 

 

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

Pass the loan details to this API, and receive a breakdown of all the installments that will be paid to amortize the Loan.  

 

What are the most common uses cases of this API?

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. 

 

 

Are there any limitations to your plans?

Besides API call limitations per month, there is a limitation of 1 request per second. 

Loan Amortization Calculator API FAQs

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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