🔎Loan Details
The loan details encompass information regarding the loan amount, terms, repayment schedule, statements, guarantors, and collateral.
Last updated
The loan details encompass information regarding the loan amount, terms, repayment schedule, statements, guarantors, and collateral.
Last updated
Select the "Guarantors" option and then click the "Add" button to add a guarantor. Choose whether the guarantor is an existing client or not. If they are, select their client account.
Add Attachments: Select this to include any attachments associated with the guarantor.
View Attachments: Select this to view the attachments added.
Select the "Collateral" option and then click the "Add" button to add collateral.
You can see these registered collateral under Collateral Register
Add Attachments: Select this to include any attachments associated with the collateral.
View Attachments: Select this to view the attachments added.
The loan schedule outlines the timeline and amounts of all payments required for repayment.
Cleared - On time: The payment was successfully made on the due date.
Cleared - Late: The payment was made after the due date but has still been successfully cleared.
Pending Payment - Prepaid: The payment has been prepaid before its due date.
Pending Payment - Late: The payment has not been made by the due date.
Not Started - On time: The payment has not yet been made, but the due date has not passed.
Not Started - Late: The payment has not yet been made, and the due date has already passed.
The loan statement shows all payments made, including the loan principal, interest, and savings.
Go to the loan statement, click 'Open' in the receipt column, and then select the print option.
The audit trail provides a record of actions taken on the loan, including who created it, approvals or declines, rescheduling, top-ups, and more. This allows you to easily track the application's history and stay informed about its progress.
When leaving a loan comment, provide specific details about any changes made, reasons for decisions, or additional information relevant to the loan. This helps ensure transparency and clarity for all users involved in the loan process, facilitating smoother communication and decision-making.
If your institution permits clients to pay off loans early, you can make that payment by selecting 'Pay Off Loan' in the loan details. This empowers clients to make payments according to the terms set in the loan settings.
To change the loan officer assigned to a loan, click on the edit icon indicated by the arrow. Then, search for the new loan officer you'd like to assign, replacing the previous one.
