Loan Accounts on Mobile

Loan Accounts are uniquely designed to help you track your loans and budget for their 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. Check out our article on credit card basics for more!

And second—if you have an offset mortgage, we recommend using a Tracking Account instead of a Loan Account.

In This Article

Adding a Loan Account

When adding a loan account, you have two options: Unlinked or Linked. *Linked Loan Accounts cannot import transactions, but our import provider can provide data—like the current balance—to help create the account.

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

How to Add an Unlinked Loan Account

  1. From the Accounts tab, tap the Add Accounts button. 
  2. Tap Unlinked
  3. Select the account type from the drop down list (if you don't see your specific Loan Account type, choose Other Debt). 
  4. Enter a name for the account. 
  5. Enter the current account balance you owe. 
  6. Enter the interest rate. 
  7. Enter the monthly payment required by your lender. *If you choose a Mortgage account type, you'll also be asked if your monthly payment includes escrow or fees. 
  8. 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!

How to Add a Linked Loan Account

  1. From the Accounts tab, tap the Add Accounts button. 
  2. Tap Linked
  3. 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 instead setting up the loan as an Unlinked account.

As a reminder, 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

How to Enter a Loan Payment

  1. From within the Loan Account, tap the Add Transaction button. 
  2. Enter the amount in the Payment Amount at the top, ensuring the toggle is set to indicate that the transaction is an inflow.
  3. For the Payee, choose the transfer payee for the account that is making the payment. 
  4. The category field will say Category not needed. YNAB will automatically add the payment to the paired budget category for this loan. 
  5. If the payment happens monthly, you can schedule it to repeat automatically by tapping the Repeat field and selecting the frequency of this payment. 
  6. You can also add a Memo, if you’d like!

How to 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 non-loan budget accounts, YNAB won't know that the outflow transaction is a loan payment. Here's how to adjust it!

  1. Change the Payee of the imported transaction to be a transfer to the Loan Account. 
  2. YNAB will change the category field to say Category not needed. 
  3. The payment will be added to the paired budget category for this loan.

Adding Targets to Loan Account Categories

Targets help you reach your loan payoff goals by reminding you to assign funds 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. There are two ways to add a Target to a category in the mobile app: from Category Details, or from in Edit Mode.

How to Add a Target via Category Details

  1. From the Budget tab, tap on the category you'll use to budget for your loan payments. 
  2. Tap on Details (above the keypad). 
  3. Tap Create a target. 
  4. Enter the amount of your monthly payment. 
  5. Enter the payment due date. 
  6. Tap Save Target

How to Add a Target via Edit Mode

  1. From the Budget tab, tap the pencil icon in the top right of your screen. This brings you into Edit Mode. 
  2. Tap on the category you'll use for loan payments. 
  3. Enter the amount of your monthly payment. 
  4. To customize the target date, Tap Monthly Debt Payment
  5. Tap every end of month to bring up the Monthly Payments window. 
  6. Select your specific Due Date (or End of Month) from the drop down menu. 
  7. Tap Save to close the Monthly Payments window. 
  8. Tap Save again to confirm the new target.  

Check out this article to learn more about adding, editing, and deleting Targets in the mobile app!

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