IllustrativeTest003
| Day |
Datestamp |
Advances |
Scheduled payment |
Window |
Payment due |
Actual payments |
Net effect |
Payment status |
Balance status |
Actuarial interest |
New interest |
Interest portion |
Principal portion |
Interest balance |
Principal balance |
Settlement figure |
| 0 |
2025-03-01 |
400.00 |
n/a |
0 |
0.00 |
n/a |
0.00 |
none scheduled |
open |
0.0000 |
0.0000 |
0.00 |
0.00 |
325.4800 |
400.00 |
400.00 |
| 30 |
2025-03-31 |
n/a |
original 181.38 |
1 |
181.38 |
confirmed 181.38 |
181.38 |
payment made |
open |
96.0000 |
0.0000 |
181.38 |
0.00 |
144.1000 |
400.00 |
314.62 |
| 60 |
2025-04-30 |
n/a |
original 181.38 |
2 |
181.38 |
confirmed 181.38 |
181.38 |
payment made |
open |
96.0000 |
0.0000 |
144.10 |
37.28 |
0.0000 |
362.72 |
229.24 |
| 91 |
2025-05-31 |
n/a |
original 181.38 |
3 |
181.38 |
n/a |
0.00 |
paid later in full |
open |
89.9546 |
0.0000 |
0.00 |
0.00 |
0.0000 |
362.72 |
319.19 |
| 120 |
2025-06-29 |
n/a |
n/a |
3 |
0.00 |
confirmed 181.38 |
181.38 |
extra payment |
open |
84.1510 |
40.6256 |
40.62 |
140.76 |
0.0000 |
221.96 |
221.96 |
| ★ 121 |
2025-06-30 |
n/a |
original 181.34 |
4 |
181.34 |
confirmed 181.34 |
181.34 |
payment made |
open |
1.7757 |
1.7757 |
1.77 |
179.57 |
0.0000 |
42.39 |
42.39 |
Key: ★ = evaluation day; ✓ = settlement day
Final Stats
| Generated settlement: n/a |
Final balance status: open |
| Effective interest rate: 0.8501574156 % per day |
Final cost-to-borrowing ratio: 102.87 % |
| Required scheduled payment count: 4 |
Last required scheduled payment day: 121 |
| Final actual payment count: 4 |
Last actual payment day: 121 |
Description
Based on borrowing £400 over 4 months with the loan being taken on 01/03/2025 and the first repayment date/day being 31/03/2025 (30 days) - missed third repayment and then paid before
fourth repayment due date (30/06/2025); this shows (in contrast to test 001) that extra interest is in fact accrued on late payment because when there is no interest balance, the principal
balance remains higher than it would have been if the payment had been made on time
Generated: see details
Basic Parameters
| Evaluation Date |
2025-06-30 |
| Start Date |
2025-03-01 |
| Principal |
400.00 |
| Schedule options |
| config: auto-generate schedule |
schedule length: payment count 4 |
| unit-period config: monthly from 2025-03 on month-end |
|
| Payment options |
| rounding: rounded up |
| level-payment option: lower final payment |
|
| Fee options |
no fee
|
| Interest options |
| standard rate: 0.8 % per day |
method: add-on |
| rounding: rounded down |
APR method: UK FCA to 1 d.p. |
| cap: total 100 %; daily 0.8 % |
|
Advanced Parameters
| Payment options |
| scheduling: as scheduled |
timeout: 3 days |
| minimum: defer or write off up to 0.50 |
|
| Interest options |
| initial grace period: 3 day(s) |
rate on negative balance: zero |
| promotional rates: n/a |
|
| Fee options |
no fee
|
| Charge options |
no charges
|
| Settlement day | n/a |
| Trim unrequired payments | false |
Initial Schedule
| Day |
Scheduled payment |
Actuarial interest |
Interest portion |
Principal portion |
Interest balance |
Principal balance |
Total actuarial interest |
Total interest |
Total principal |
| 0 |
0.00 |
0.0000 |
0.00 |
0.00 |
325.48 |
400.00 |
0.0000 |
0.00 |
0.00 |
| 30 |
181.38 |
96.0000 |
181.38 |
0.00 |
144.10 |
400.00 |
96.0000 |
181.38 |
0.00 |
| 60 |
181.38 |
96.0000 |
144.10 |
37.28 |
0.00 |
362.72 |
192.0000 |
325.48 |
37.28 |
| 91 |
181.38 |
89.9546 |
0.00 |
181.38 |
0.00 |
181.34 |
281.9546 |
325.48 |
218.66 |
| 121 |
181.34 |
43.5216 |
0.00 |
181.34 |
0.00 |
0.00 |
325.4762 |
325.48 |
400.00 |
Initial Stats
| Initial interest balance: 325.48 |
Initial cost-to-borrowing ratio: 81.37 % |
Initial APR: 2064.3 % |
| Level payment: 181.38 |
Final payment: 181.34 |
Last scheduled payment day: 121 |
| Total scheduled payments: 725.48 |
Total principal: 400.00 |
Total interest: 325.48 |
FSharp.Finance.Personal