Bank loan tracker with EMI

What it is

Lipi is a bank loan tracker and EMI tracker. You enter the terms of a home, vehicle, education or personal loan once. Lipi works out the full EMI schedule, shows what is left to pay and keeps a record of every EMI you pay. It handles both reducing balance and flat interest loans.

What problem it solves

Bank statements and paper schedules show you rows of numbers, not the story. Lipi shows how much you have paid so far, how much of that was interest, how much principal is repaid and when the last EMI falls. If your loan changes, you change a row and the rest follows.

How it works

1. Open Loans & EMI and tap New, then Add a bank loan. The page also lists your people ledgers, which are a separate free feature.
2. Fill in Name, Lender, Principal, Interest rate (% year), Tenure (months) and First EMI date. Pick Reducing or Flat interest. Choose a Paying account and a Category if you want EMIs booked as expenses, and switch Auto EMI on or off. Save.
3. Lipi builds the schedule. Rows marked Worked out are estimates. Edit any row to match your bank, or paste rows from the bank’s schedule.
4. Open the loan to see Left to pay, a progress bar, the next EMI, and the totals Paid so far, Interest paid, Principal repaid and Interest still to pay.
5. When you pay an EMI, tap Mark paid on the next EMI card. You can book it as an expense from your paying account, or only tick it if the payment is already in your books.
6. Use the loan menu to Copy, Export CSV, Export PDF, Edit or Delete the loan. Use the More actions sheet to prepay or close the loan early (see loan prepayment).

Details and rules

• Bank loans are Premium. The loan calculator is free. People ledgers for money you lend or borrow are free.
• Interest methods: Reducing (interest on the balance left) and Flat (interest on the full amount each month).
• Limits: tenure up to 600 months, up to 1,200 schedule rows per loan.
• Auto EMI runs daily at 6 am Nepal time. It needs a Paying account only if it should book a transaction.
• If an EMI is past due and not ticked, the loan page shows a notice with Paid? and Review.
• A rate change is handled by editing rows and recalculating the unpaid ones at the new rate.
• Deleting a loan removes its schedule and history but keeps transactions it already added.
• Works offline once the app is installed. Amounts use your currency’s number grouping, for example Rs. 61,00,245.32.

Works with

• EMI schedule
• Loan prepayment
• Loan calculator
• Lending and borrowing ledgers
• Loan dashboard widgets

Ask an AI assistant

Connect Lipi to Claude or ChatGPT and ask: “List my bank loans and tell me which EMI is due next.” The assistant uses list_bank_loans and get_bank_loan. Ask “Mark EMI 8 of my home loan as paid” and it uses pay_bank_loan_rows. Send a photo of your bank’s schedule and it can read it with read_document and save the rows with set_bank_loan_rows. Other loan tools are save_bank_loan, unpay_bank_loan_rows, save_bank_loan_event, delete_bank_loan_event and delete_bank_loan. These tools need Premium.