Application terms and calculation
The selected product determines which calculator and fields are available. Recalculation turns the entered terms into the financial summary and expected schedule.
- For
- Application users entering or reviewing proposed lending terms.
- Requires
- An editable application, a selected product, and the required amount, rate, term, date, and product-specific inputs.
- Available when
- The product has a configured internal or enabled external calculator.
- Before you begin
- Confirm the requested terms, currency, payment timing, commission treatment, and any conditional calculator fields.
- Expected result
- The financial summary and expected schedule recalculate from the current inputs without validation errors.
Common inputs
| Input | Effect |
|---|---|
| Requested amount | Starting amount used by the calculation. |
| Number of payments or term | Number and timing of expected instalments. |
| Annual interest rate | Rate used to calculate interest. |
| Currency | Currency of the application and resulting loan. |
| Issue or calculation date | Starting point for schedule dates and day-based calculations. |
| Payment date | Requested recurring payment day when the product supports it. |
| Commission rate | Additional cost when commission is configured. |
| Add commission to loan amount | Determines whether commission is financed rather than paid separately. |
Product-specific fields can supply additional calculator inputs. Changing an amount, date, rate, term, commission setting, or other calculator input can invalidate the displayed result until recalculation completes.
Calculator types
Finsaku includes two standard calculation methods and can use an enabled external loan calculator selected by the product.
| Calculator | General repayment pattern |
|---|---|
| Annuity | The periodic principal-and-interest payment is generally level; the principal portion grows as the interest portion falls. |
| Amortised | Principal is generally divided evenly; the total payment usually falls as interest is calculated on a lower balance. |
| External calculator | The connected service returns the calculation according to its own configured rules. |
The product configuration is the authority for the method used. Do not compare two applications without checking that they use the same calculator and date assumptions.
Read the result
The summary can include the financed amount, commission, periodic payment, total interest, total cost, APR, IRR, first payment date, and days to first payment. The schedule shows the expected split by due date.
Before processing the application:
- verify the borrower and product;
- confirm amount, currency, rate, term, issue date, and payment date;
- review how commission is treated;
- check the first and final instalments for date or rounding effects;
- compare the schedule total with the summary.
Calculated figures support the application record. Use the organisation's approved disclosures and rounding rules when communicating terms to the borrower.