![]() ![]() In the Extended tab, all options are the same as for the other types of accounts, but there is one additional option called "Payment Plan". Notice that at the top, there are Basic and Extended tabs. Start date: this is the date when you signed the contract.įirst due date: this is the date when you are required to make your first payment towards this loan note that it’s important to set those correctly as even if you start date and first due date are different, you will be accountable for interests during the time between these two dates and that later affects your entire payment schedule. Principal amount: that is the amount of loan which you signed a contract for with your banking or other financial institution it doesn’t include any interests or down payments.ĪPR %: APR stands for "Annual percentage rate", it usually includes both the interest and all additional bank fees around your loan (if you wish to create an interest-free loan please see this guide).ĭuration: most loans are paid off on a monthly basis, so set the duration with number of months. You can type in whatever feels descriptive enough. Name: this is the name of the Loan account. You'll be asked to provide some information about your loan: Please note that loan accounts are not supported for Online Banking feature at this time. To begin, start creating an account, select manual type and proceed with Loan account from the picker. You can track your mortgage, car loan and any other loan with APR automatically applied, as well as smaller, more personal loans. Because we aim to make MoneyWiz the complete finance-management suite, we've also introduced the feature to track loans inside the application. ![]()
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