How can I add an interest rate to a personal loan and automatically update the amount?

I would like to add an interest rate to a personal loan, so that Mint will compound the interest and show me an updated amount each month.  I know how to add a personal debt asset, but even when such an asset is classified as a "loan," Mint does not provide a field to add the interest rate.  It would be even nicer still if, once the interest rate were there, Mint would update this amount each month by compounding the interest.  I know that I can do this manually, but where's the fun in that?

Answer

Hi kjhelland,

Unfortunately, Mint does not have a way to calculate compounding interest for a personal loan. As you've discovered, the only way to track personal loans in Mint is if you it as "Other Property" and manually update the balance each month.

You can learn how to add other property in the FAQ below:

https://mint.lc.intuit.com/questions/951324-mint-faq-how-can-i-track-an-asset-or-debt-not-associated...

Thank you,
Jami


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