Lending
Amounts as of
How the numbers are worked out
- Interest is charged per day. For the days between two events (loan given, a payment, today) on the principal still owed:
- Rate per month:
principal × rate/100 × days ÷ (365/12) - Rate per year:
principal × rate/100 × days ÷ 365
- Rate per month:
- Simple interest is never added to the principal: unpaid interest just waits.
- Compound monthly: on the same date each month as the loan date (e.g. the 5th), any unpaid interest is added to the principal and starts earning interest too. If the loan day doesn't exist in a month (31st), the last day of that month is used.
- Payments first clear unpaid interest, then reduce the principal.
- Monthly installments: the first one is due the month after the loan date. All payments count towards them, oldest month first; an installment is late once its date passes without enough paid in total.
- Reminders: "Overdue" when an installment or the due date has passed without enough paid; "Due soon" within 7 days.
- Interest is rounded to the nearest paisa each time it is added up (at each event and today).
- A loan closes by itself when the balance reaches ₹0. You can also settle or close it by hand: record a final amount if there was one; interest stops on the close date and whatever is still unpaid is counted as written off (left out of "Owed to you").
- Ask to pay makes a UPI QR code and link to your UPI id (set it under "My UPI") with the amount filled in.
- Trust score (people you lent to):
% of due dates and installments paid on time − average days late of the late ones (max 30) − 25 if anything was written off, kept between 0 and 100. 80+ is Good, 50–79 Fair, below 50 Risky. An installment counts as paid on the day total payments cover it. No due dates or installments yet means no score. - Collateral: things given as security. When a loan closes, anything not yet returned shows up under Reminders as "To do".
- Undo: after any change you get an "Undo" button for a few seconds. "More → History and undo" lists every change; the latest one can be undone, then the one before it, and so on.
- Backups: the server keeps a copy every night (last 30 days). "More → Download backup" gives you everything in one zip: your data, a CSV and all attached photos/PDFs.
- "Today" is the date in India (IST).