My Microloans is a convenient app for managing all your microloans. You can add any microloans in the "My Microloans" section, and in the "Showcase" section, you can view current offers from various microfinance organizations.
The app can calculate interest and overpayments using two formulas:
- Simple interest
- Compound interest
The app automatically calculates the overpayment as a percentage and displays the final loan amount.
The main parameters you can add for a microloan are:
- Loan amount
- Balance outstanding
- Total payment amount
- Interest amount
- Loan term
- Interest rate (per day)
- First payment date
- Regular payment
The app works offline, without registration or data synchronization. Please be careful when deleting the app or clearing your device's memory—all information you entered will be irrevocably lost.