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Ability to auto charge interest on a periodical basis

Add the ability to charge interest on the balance of a group on a recurring basis. Even simple interest instead of compounding interest would be OK.

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    James StapletonJames Stapleton shared this idea  ·   ·  Flag idea as inappropriate…  ·  Admin →
    under review  ·  Splitwise SupportAdminSplitwise Support (Admin, Splitwise) responded  · 

    As of September 2016, we don’t currently have any plans to add features for charging interest. We can definitely see how it’d be useful in some circumstances, especially for large debts, but right now we think it would add too much complexity and require us to redesign some significant parts of our user experience.

    16 comments

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      • Abhishek ShahAbhishek Shah commented  ·   ·  Flag as inappropriate

        There can be an option to add interest per month if the amount exceeds a value and the dues aren't paid even after a month or so.

      • Prashanth MatetiPrashanth Mateti commented  ·   ·  Flag as inappropriate

        If the amounts paid are above certain value. Lender can go for option of flexible Interest on the amount for the given period, as a mutual agreement.

      • NikshaNiksha commented  ·   ·  Flag as inappropriate

        Add time value of money so that the lender gets back his money with interest or asap. The borrowers won't take Splitwise for granted then and keep delaying the payment.

      • Mohit AroraMohit Arora commented  ·   ·  Flag as inappropriate

        Add interests to expenses which are pending for too long time.
        The interests can be specified through app and option of days after which interest should get up added.

      • MANU JAINMANU JAIN commented  ·   ·  Flag as inappropriate

        Create a money lending function and allow user to apply interests on it without affecting that amount borrowed/lend by other transections between the users.

      • ShravanShravan commented  ·   ·  Flag as inappropriate

        Adding this feature would benefit aand also garner a lot of user base outside of the US as lending money for interest from person to person is quite common in the 3rd world nations. I would love to see this feature.

      • Ian BlizzardIan Blizzard commented  ·   ·  Flag as inappropriate

        Has there been any update on this request since 2012?
        This would be a very useful feature for managing personal loans between friends/family.

      • hari.k.reddihari.k.reddi commented  ·   ·  Flag as inappropriate

        Add interest feature for the money owed by someone because we can use the app to add borrowings of money for other personal reasons. The interest should be added to the sum automatically either daily or monthly or annually as chosen. Thank you

      • Maxime Duval SMaxime Duval S commented  ·   ·  Flag as inappropriate

        Splitwise’s position on this seem not to have been updated for about a year.

        Any plan on implementing this feature in the near future?

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