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# Loan Generator API

Calculate loan amount and interest with our Loan Generator API. Also, generate a loan repayment schedule with payment details using a single, easy-to-use endpoint.

You need to provide your API key for every API request you make. Please refer to the Getting Started section for more details.

You can check our Errors section to understand how we handle errors and the responses you will receive in cases when errors occur.

Endpoint used for generating loan details and payment schedule based on the specified parameters.

Key | Explanation | Type | Required |
---|---|---|---|

`amount` | Loan principal amount. | `number` | `true` |

`installments` | The total number of installments (number of months during which the loan repayment takes place). | `number` | `true` |

`interest_rate` | Loan interest rate, expressed as percentage (if loan interest rate is 10%, this parameter should have value `10` ). | `number` | `true` |

`diminishing` | Indicates whether a diminishing loan (loan that has decreasing monthly installments) is being generated. Defaults to `false.` | `boolean` | `false` |

GET /loan/generate?amount=1000&installments=4&interest_rate=12

RESPONSE:

{

"amount": {

"principal": 1000,

"interest": 25.13,

"total": 1025.13

},

"details": {

"installments_count": 4,

"interest_rate": 12,

"diminishing": false

},

"payment_schedule": [

{

"principal": 246.28,

"interest": 10,

"total": 256.28,

"remaining": 753.72,

"total_paid_interest": 10

},

{

"principal": 248.74,

"interest": 7.54,

"total": 256.28,

"remaining": 504.98,

"total_paid_interest": 17.54

},

{

"principal": 251.23,

"interest": 5.05,

"total": 256.28,

"remaining": 253.75,

"total_paid_interest": 22.59

},

{

"principal": 253.74,

"interest": 2.54,

"total": 256.28,

"remaining": 0,

"total_paid_interest": 25.13

}

]

}

Our API generates non-diminishing loans by default.

A

**diminishing loan**is a loan that has decreasing monthly installments. In diminishing loans, all installments don't have the same amount in the monthly payment schedule. The first installment is the largest, and monthly payments gradually decrease from month to month.If you would like to generate a diminishing loan you can specify it via

`diminishing`

parameter:GET /loan/generate?amount=1000&installments=4&interest_rate=12&diminishing=true

RESPONSE:

{

"amount": {

"principal": 1000,

"interest": 25,

"total": 1025

},

"details": {

"installments_count": 4,

"interest_rate": 12,

"diminishing": true

},

"payment_schedule": [

{

"principal": 250,

"interest": 10,

"total": 260,

"remaining": 750,

"total_paid_interest": 10

},

{

"principal": 250,

"interest": 7.5,

"total": 257.5,

"remaining": 500,

"total_paid_interest": 17.5

},

{

"principal": 250,

"interest": 5,

"total": 255,

"remaining": 250,

"total_paid_interest": 22.5

},

{

"principal": 250,

"interest": 2.5,

"total": 252.5,

"remaining": 0,

"total_paid_interest": 25

}

]

}

Every successful response will have the structure explained in the table below:

Key | Explanation | Type |
---|---|---|

`amount.principal` | The principal amount of loan. | `number` |

`amount.interest` | Total loan interest amount. | `number` |

`amount.total` | Total loan amount (calculated by summing `amount.principal` and `amount.interest` ). | `number` |

`details.installments_count` | Total number of months over which is loan paid out. | `number` |

`details.interest_rate` | Loan interest rate, expressed as percentage (if loan interest rate is 10%, this key will have value `10` ). | `number` |

`details.diminishing` | Indicates whether a diminishing loan (loan that has decreasing monthly installments) was generated. | `boolean` |

`payment_schedule.principal` | Principal repayment amount of loan installment. | `number` |

`payment_schedule.interest` | Interest repayment amount of loan installment. | `number` |

`payment_schedule.total` | Total repayment amount of loan installment (calculated by summing `payment_schedule.principal` + `payment_schedule.interest).` | `number` |

`payment_schedule.remaining` | Total amount that is remained to be paid out after the current installment is paid. | `number` |

`payment_schedule.total_paid_interest` | Total amount of interest that is paid out (including the current installment). | `number` |

Last modified 1yr ago