Overview
The Personal Loan event helps you model a new secured loan (like a car loan, personal loan or investment loan) and understand how repayments, interest, and ownership impact your future cashflow and net worth.
The form lets you:
Add or edit a personal loan in your plan
Set the loan amount, interest rate, and repayment term
Choose who owns the loan
Set whether interest payments are tax deductible
You can see tax deductibility by selecting the 'Is this Tax Deductible' toggle
Click a year in which the Debt repayments are active and on the Tax Deduction page you'll see the Deductible Interest.
