Loan Accounts

Loan accounts are uniquely designed to help you track your loans and budget for your loan payments. From mortgages, car loans, and medical loans, to personal and student loans, YNAB Loan accounts are here to help you budget for your payments, and pay off debt!

But first—if you have credit card debt, we recommend using the Credit Card account type for that. Learn more about it here!

And second—if you have an offset mortgage, we recommend using a Tracking account instead of a Loan account. If your offset mortgage Tracking account is displaying a banner prompting you to switch to a Loan, you can dismiss that banner by clicking "Learn More," then "Maybe Later."

In This Article

Adding a Loan Account

To add a Loan account, click the Add Account button, and then click Unlinked or Linked.

Unlinked

1

Select the account type from the Loan Accounts list. If you don’t see your account type listed, choose Other Debt.

2

Enter the name of the account, the balance you owe, the interest rate, and minimum payment amount. If you choose a Mortgage account, you’ll also be asked if your monthly payment includes escrow or fees.

3

YNAB will then ask you to choose a budget category where you’ll budget for payments to this loan. You can choose an existing category, or create a new one!

when creating a loan account you'll be asked your interest rate and minimum monthly payment after you select your account type

Linked

Loan accounts cannot import transactions, but our import partner can provide data - like the current balance - to help create the account.

To set up a Linked Loan account, click Add Account and select Linked. Follow the prompts to connect to the bank that services the loan. Not all lenders will be available for connection, so if you don’t see your lender/bank in the Connections list, we recommend setting up the Loan as an Unlinked account.

Linked Loan accounts will not import payments or transactions. However, you can create a Scheduled Transaction for your loan payments, and YNAB will automatically enter the payments each month! The steps to create a Scheduled payment are below.


Recording a Loan Payment

Each Loan account will have a paired budget category where you’ll assign funds for your payments. When you make a payment, an outflow transaction will be added to the account register of the account that made the payment, and the payment will be deducted from the Loan account’s paired category in your budget.

There are two ways to record a loan payment: 

  • Enter a Loan Payment
  • Import a Loan Payment

Enter a Loan Payment

1

To enter a loan payment, open the Loan account and click Add Activity.

2

Choose Add Payment.

3

Enter the amount in the Payment Amount field. If there are Available funds in the loan's payment category, the total Available amount will show automatically as the Payment Amount.

4

In the From Account field, choose which account made the payment.

5

Choose the Date of the payment, and add a Memo if you’d like!

Import a Loan Payment

Loan accounts cannot import transactions, but if your budget accounts are linked, you may notice your loan payment import into the account that made the payment (i.e. Checking). The first time a loan payment is imported into one of your budget accounts, YNAB won’t know that the outflow transaction is a loan payment.

To adjust a payment that imported, change the Payee of the imported transaction. Select the Payment & Transfers Payee for the Loan account. YNAB will automatically choose the paired budget category!

the payee on the imported transaction should be changed to select a transfer to the debt account. no category is needed.

In the future, YNAB will remember the transfer Payee and will automatically choose that Payee for the next imported loan payment!


Adding Targets to Loan Account Categories

Targets help you reach your loan payoff goals by reminding you to budget for them! You can set a Target to pay a set amount toward the loan each month, or pay off the loan by a chosen date.

1

To add a Target, open the Loan account and click "Create Debt Payment Target."

the option to create a debt payment target is on the right under the Budget Category

2

This button will take you to the paired budget category and will open the Debt Payment Target for that category!

3

If you’d like to pay a set amount toward the loan each month, enter that number in the Monthly Payment section. YNAB will automatically calculate the Payoff Date and remaining Interest based on the Monthly Payment amount.

4

If you’d like to pay off the loan by a certain date, enter the Payoff Date and YNAB will automatically calculate the monthly payment required to pay off the loan by that date.

5

Choose the date that your monthly payments are due, and click Save Target!

the Due Every dropdown is under your monthly payment amount and allows you to choose the day your payment is due

To learn more about the Debt Payment Target, check out the Targets Help Doc!

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