Enter different agreed principal repayments for each year. Each year's amount is divided equally across its 12 monthly principal instalments.
Yearwise negotiated principal plan
Each year's entered principal is split into 12 equal monthly principal repayments. Interest is charged monthly on the opening balance.
Month-wise repayment schedule
| Month | Year | Opening | Principal | Interest | Payment | Closing |
|---|
Yearwise summary
| Year | Principal | Interest | Total repayment | Closing principal |
|---|
Negotiated repayment methodology
Specify the principal repayable in each year, based on projected cash flows. Each annual principal amount is distributed evenly over 12 months; monthly interest is calculated on the reducing opening balance. The annual principal allocations must equal the original loan amount and the final closing principal must be zero.
Rounding differences are adjusted in each year's final monthly principal instalment. No processing fees, GST, moratorium, prepayments or rate changes are included. Banks may use daily-product interest or other sanction-specific conventions.