How to setup this kind of loan in kmymoney?

Hi

I recently borrow 3000 euros from my bank.
I have to pay 30 euros of fees now and I will have to pay back 1000 euros/month for the next 3 months.

This kind of loan does not seem to be support by the loan wizard in kmymoney and I would like to know what is the best way to add this loan in this software.

Thank you for your help

Hello Antoine,

You are correct that KMyMoney loans cannot be set up with 0% interest. In this case, I would create a plain liability account. The first transaction would be the transfer of €3000 from the new liability account to your checking account. At the same time, make a payment from the checking account to the bank for the €30 in fees. Then, there will be three monthly transfers of €1000 from your checking account to the liability account.

Does this make sense?

Jack

1 Like

Perfect :slight_smile: , this is exactly what I was looking for.