I would like to suggest that there should be a text field for approved
loan amount since sometimes the loan committee may not approve all the
loan amount the client has applied for due to various reasons like;
the loan security provided by the client may not be valued close to
the applied loan amount so less is applied (e.g Client applies for
56000 and the committee can approve 50000) etc. the loan schedule will
then be calculated based on the approved amount (50000) and the
applied amount (56000) can be stored in database for record purposes
or overwritten by the approved amount. This makes the loan processing
flexible enough.