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.
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.
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nard Leo commented
It's so useful! Continue until you correctly guess the hidden word after six tries.
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SNAKE commented
I really need this feature. It would really helpful for friends with large debts. It will encourage them to pay back in time.
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Arthur Raposo commented
I think this would even be useful for users in countries with higher inflation rates. Though at this time the world's rates are low, Brazil for example still has comparatively high ~4.3% y.y
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Vandna commented
I think it will be a good to have feature in which we can have a sharing method, where "I can select the interest rate" and the "time period" while giving some amount to anyone.
Like, if I want, that until my expenses are clear than for every month I want to charge an interest of 2% to my fellow whom I have shared money. And accordingly the share amount will increase and will be indicated to fellow person. -
Rama Douce commented
Please add this feature, we would like to add manually de interest, in our country is 50% annually
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Anil Padmanabhuni commented
Simple interest and compound interest for hand loan tracking is much await feature for india trust me it works well.
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Arpit commented
when your friend is not paying you by time ,the particular intrest rate will apply and it will be applied after 5th of the month so day by day u can earn the intrest also and that will help to get your money back faster..
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Tarun Kumar Charmala commented
Hey Splitwise its 2019 we need to have that option to add interest to the money we need in split
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Suchet Rathod commented
If suppose person pays me say 3 or 4 months late then I should be able to charge or calculate interest amount on outstanding balance and collect total money from him or her.
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Rushi Patel commented
it's required for long term transection
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Rohit Bhole commented
This is needed actually.
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Rohit Bhole commented
I have sent you detailed mail. Please check it.
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Swapnil Deotale commented
I suggest you guys should add a feature of interest on the pending balances. Maybe similar to how the credit card charges are implemmented. This will promote the habit of settling the pending amounts.
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Rafael Kaminski Teixeira commented
No updates about this feature? It'd be very useful, especially in groups that the payments are quarterly or longer
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Mayur Bajaj commented
Some people doesn't pay the money back or are unable to pay, but your money is blocked there, so I believe we could be able to charge the interest on the amount of debt on agreed interest rate
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Abhishek Shah commented
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.
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Prashanth Mateti commented
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.
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Niksha commented
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.
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Mohit Arora commented
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 JAIN commented
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.