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Loan

A loan in Tikito represents a debt you are paying off over time, such as a mortgage or student loan. Tikito tracks the remaining balance and calculates expected future payments.

Loan types​

TypeDescription
Annuity mortgage (MORTGAGE_ANNUITEIT)Fixed monthly payment; the interest portion decreases and principal portion increases over time
Linear mortgage (MORTGAGE_LINEAR)Fixed principal repayment each period; total payment decreases over time as interest falls
Student loan (STUDENT)Under construction
Generic (GENERIC)Under construction

Loan parts​

A single loan can consist of multiple loan parts, each with its own:

  • Name
  • Start and end dates
  • Initial amount
  • Currency
  • Type (annuity, linear, etc.)
  • Interest rate history (rates can change over the lifetime of the loan)

This is common for mortgages where a home is financed with multiple tranches at different interest rates.

Connecting to money groups​

A loan can be linked to one or more money groups. This allows Tikito to correlate your actual monthly bank payments with the scheduled loan payments, giving you a view of how closely your payments match the amortisation schedule.

Remaining amount​

Tikito tracks the remaining balance of each loan part. This is updated based on the amortisation schedule derived from the loan type, amount, interest rate, and term.