Most people can recite their monthly EMI and could not tell you what they still owe, or when it ends. NetWorth+ keeps the schedule, the outstanding balance and the finish date in front of you, and subtracts the debt from your net worth where it belongs.
One personal loan
What is worth watching
In short
NetWorth+ is a free Android app that tracks loans and EMIs as liabilities with a repayment schedule. Each loan holds its principal, rate, instalment, remaining balance and end date, and each payment splits between interest and principal so you can see the balance actually falling. The debt is subtracted from your net worth in full. It suits personal loans, car finance, home loans, education loans and instalment plans in the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman and India, and it never connects to a bank or a lender.
Loan types
Personal, car, home, education, BNPL
Schedule
Interest and principal, per instalment
Net worth
Outstanding balance subtracted
Cost
Free, no ads
The problem
It is also the least informative one. It tells you what leaves your account and nothing about what you owe.
A loan has four numbers that matter: what you still owe, what the next instalment does to that, what the whole thing will cost by the end, and when the end is. The monthly instalment tells you none of them. It is a payment schedule, not a position.
This gets worse with several debts at once — a car loan, a phone on instalments, a furniture plan, a card balance being paid down. Individually each is manageable and collectively they are a fixed monthly obligation that nobody has ever added up.
How it handles it
Each instalment splits into interest and principal, so you can see why the balance in year one barely moves and why year four is different. It is not intuitive and it is worth looking at.
The outstanding balance is subtracted from your position in full. A car that is worth less than the loan against it shows as exactly that, which is uncomfortable and correct.
Set the EMI as a scheduled payment and it appears in the forecast every month without being re-entered, alongside every other fixed obligation.
Car, phone, furniture, education, card. The sum of what you are committed to each month is a number most people have never seen, and it changes decisions.
In practice
Principal, rate, tenure, instalment and start date, taken from the loan document rather than from memory. Five minutes, once.
When the instalment leaves your account the bank alert can be read on the device and matched to the loan, so the schedule stays in step with reality.
A prepayment goes against principal and changes the end date. Enter it as one and the remaining schedule reflects it.
It is the most motivating number in the whole app and almost nobody knows theirs before they start tracking.
Reference
| Number | What it tells you | What it hides |
|---|---|---|
| Monthly instalment | What leaves your account | Everything about the balance |
| Total of remaining instalments | The full future cost if you run to term | That settling early usually costs less |
| Outstanding principal | What you actually owe today | Any early settlement fee your bank charges |
| Interest paid to date | What the borrowing has cost so far | What it will cost from here |
Early settlement rules, fees and caps differ by lender and by country and are set by your agreement and local regulation. NetWorth+ records what you tell it and what you pay; it does not know your bank's settlement policy and does not advise on whether to prepay.
NetWorth+ does not lend, does not arrange finance, does not connect to your lender and does not recommend whether to borrow, refinance or settle early. It has no commercial relationship with any bank. It is a record and a schedule, and any decision about a loan belongs to you and, if the sums are large, to a qualified adviser.
Where this applies
Personal finance, car finance and instalment plans are widely used across the Gulf, and salary-transfer lending is common in the UAE, Saudi Arabia, Qatar, Kuwait, Bahrain and Oman. Instalment debits arrive by SMS from most banks in these markets, and the app reads the common formats, including three-decimal dinar amounts. Indian EMI alerts are handled too.
NetWorth+ also covers India, Singapore, Malaysia, the Philippines, Thailand, Vietnam, the United Kingdom and the United States. Currency handling is not limited to the list above — three-decimal dinars and zero-decimal currencies are treated correctly rather than being forced into two decimal places.
Questions
Keep reading
Test a tenure or a prepayment in the browser before committing to it.
Read moreThe other kind of debt, with a cycle instead of a schedule.
Read moreHow assets and liabilities resolve into a single figure.
Read moreWhen the bike or car being financed is also how you earn.
Read moreThree-decimal dinars, read correctly.
Read moreWhere a household's fixed obligations all land at once.
Read moreThe balance, the schedule and the final payment date — for every loan you are carrying, in one place.
Android. No bank login. No ads. Message reading is optional and off until you switch it on.