A repayment schedule is a list of every repayment due on a facility, with the date of each payment and how the outstanding balance reduces over time. It turns the agreement into a clear timeline you can plan around.
What it shows
A typical schedule sets out, for each instalment, the date due, the amount, how much goes towards interest, how much reduces the principal, and the balance remaining afterwards.
- Payment dates across your agreed term.
- The split between interest and principal for each payment.
- The running balance, falling to zero by the end of the term.
Why it helps your business
A repayment schedule lets you line up loan payments against your expected income, so there are no surprises. It also helps you see the effect of repaying early, where your agreement allows, since clearing the balance sooner reduces the interest you accrue.
Credicorp lends only to UK limited companies and LLPs for business purposes. Your schedule reflects the amount, rate and term in your own offer, so always work from the schedule in your account rather than any general example. Our team can send a copy if you need one.
See also: What is an overpayment?, What is an early repayment charge?, What happens if I miss a payment?.