LoanCalculator
Action: POST
Endpoint: /api/CoreCredit/AccountManagement/LoanCalculator
This API is to calculate the equal payment amount and total principal with given Loan amount and Loan term. It will also return the payment due and payment dates.
Request fields details
Fields | Description |
---|---|
Source string Mandatory |
Source of API Consumer For external system expected sources will be WEB. Allowable Values: 50 |
IPAddress string Optional |
IP Address of Client / Application Hosting Server Example: 10.206.0.204 Allowable Values: 15 |
DateFormat string Optional |
Place Holder for Future Use. Values are: 1 : MM/dd/yyyy HH:MM:SS (Default) 2 : MM/dd/yy HH:MM:SS 3 : dd/MM/yyyy HH:MM:SS Allowable Values: 25 |
CurrencyCode string Optional |
Currency Code Place Holder for Future Use. Valid Values: Refer Appendix Section - Currency Code Example:840 = US Dollar Condition:If no value is passed, default value = 840 Allowable Values: 10 |
CurrencySymbolType string Optional |
Place Holder for Future Use. CurrencySymbolType: 1: Currency Sign like $ 2: 3 ALPHA Currency Code like USD Allowable Values: 10 |
Language string Optional |
Place Holder for Future Use. Language: en: means use English Default: en - English Allowable Values: 10 |
ExternalIP string Mandatory |
IP Address of end user of API Allowable Values: 50 |
SessionID string Optional |
Session identifier of the API Example: 000028;026;1349906692 Allowable Values: 100 |
APIVersion string Mandatory |
Version of the API to be invoked. Example: 2.0 API Version Current Version 2.0 Allowable Values: 10 |
CallerID string Optional |
Caller ID of source from where API is initiated it is End User Caller ID Example: 7204454214 (phone number applicable in Case of IVR) Allowable Values: 20 |
CalledID string Optional |
Called ID of destination for which API is initiated It is Destination Called ID Example: 7314145404 (phone number applicable in Case of IVR) Allowable Values: 20 |
RequestTime datetime Optional |
Request Date Time of API Format: MM/dd/yyyy HH:mm:ss Example:01/15/2020 10:05:23 |
LoanAmount decimal Optional |
The principal amount borrowed. It does not include interest. Valid Values: 0-9 Example: 2000.00 |
LoanInterestRate decimal Optional |
The nominal interest rate. This the quoted interest rate for the loan. Valid Values: 0-9 Example: 10.00 |
LoanTerm integer Optional |
Time period of Loan. Should be provided in months. If it is for 1year, Loan Term should be 12. Valid Values: 0-9 Example: 12 |
InterestAccrualMethod integer Optional |
How often payments should be scheduled, monthly/ daily. Valid Values: 1- Daily , 2- Monthly, Default value will be Monthly Refer Appendix for its explanation Example: 1 |
LoanCalculationMethod integer Optional |
Different method of Loan calculation. Valid Values: 1- BestPayment, 2- PMTformula , Default will be PMTFormula Example: 1 |
InterestOnInterest integer Optional |
Interest that is earned when interest payments are reinvested. Valid Values: 0 -Yes, 1- No, Default will be No Example: 1 |
LastCycleInterest integer Optional |
Interest of Last cycle need to be taken care as Bill Balance, Valid Values: 1 - BillBalance, 2 - WaiveInterest, 3 - AdditionalTerm, Default value will be Additional Term. Example: 3 |
LoanDate DateTime Optional |
Start date of your Loan. Default value will be current date. Format: MM/DD/YYYY Example: 01/01/2020 |
PaymentDueDay integer Optional |
Day on which first payment is due Valid Values: 1,2..30 Example: 10 |
StatementDate datetime Optional |
Statement Date or billing cycle date. Default value will be end of the month. Format: MM/DD/YYYY Example: 01/01/2020 |
Sample request body
{ "Source": "Web", "IPAddress": "10.120.0.0", "DateFormat": null, "CurrencyCode": null, "CurrencySymbolType": null, "Language": null, "ExternalIP": "10.120.0.0", "SessionID": null, "APIVersion": "2.0", "CallerID": null, "CalledID": null, "RequestTime": null, "LoanAmount": 20000.0, "LoanInterestRate": 5.0, "LoanTerm": 12, "InterestAccrualMethod": 2, "LoanCalculationMethod": 2, "InterestOnInterest": 1, "LastCycleInterest": null, "LoanDate": "01/31/2020 00:00:00", "PaymentDueDay": 20, "StatementDate": "03/31/2020 00:00:00" }
Response fields details
Fields | Description |
---|
Sample response body
{ "Message": "Return Successfully", "Status": true, "ErrorCode": "ERR01093", "ResponseData": { "TotalInterestDue": 549.39, "LoanAmount": 20000.0, "NumberOfPayments": 13, "EqualPaymentAmount": 1712.15, "LoanDate": "01/19/2017", "LoanTerm": 12, "PaymentSchedule": [ { "PaymentNumber": 1, "StatementDate": "01/31/2017", "LoanPaymentDueDate": "02/25/2017", "LoanInterestPayment": 35.62, "PrincipalPayment": 1676.53, "RemainingLoanAmount": 18287.85 } ] } }