Accurate Interest Calculation
Industry-standard ACT/365 day-count convention with multiple calculation methods
About This Feature
Our interest calculation engine uses the industry-standard ACT/365 (Actual/365) day-count convention, ensuring compliance with UK lending standards. The system supports three interest calculation methods to accommodate different loan products.
Key Capabilities
- ACT/365 day-count convention for UK compliance
- Flat Rate calculation for simple interest loans
- Reducing Balance (Simple) for declining balance interest
- Reducing Balance (Compound) with multi-period compounding
- Precise EMI calculation using bisection root-finding algorithm
- High-precision internal calculations with intelligent rounding
See It In Action
Interest calculation settings on loan creation
Interest calculation settings on loan creation
Generated amortization schedule with calculated interest
Generated amortization schedule with calculated interest
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