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Create loan account with variable installments

To create a loan account application for a client, select the client by searching the desired client from Global Search. Click the General tab.

1. On the Client page, Click +New Loan on the bright blue action bar.
2. Select the loan product to base the loan account on from the product list.
3. Complete the loan account fields, making any modifications from the default that are permitted and applicable to the loan application.
4. Click Submit.

The loan account application will be created with a status of Pending Approval. Your financial institution will define the workflow and permissions for approving loans.

Note:- You could provide the variable installments at the Loan in pending for approval status. 

Step 1) Go to Existing loan account>>Pending Approval status. 

            Click on More>>Edit repayment schedule 

Step 2 - i) 

           a) Showing repayment schedule 

       b) In the example below example - , screen shot, :      

            1 - Changed date to 10th, feb February from 1st,febFebruary.

            2 - Changed amount to 600 from 1094 1094.

            3 - Changed amount to 500 from 1094 1094.

            4 & 5 - Created new instalment installment by using + button prior to this instalmentinstallment.

            6 - "x" use this button to remove instalmentinstallment. 

            7 - Click on Reset button to reset values to normal instalment installment schedule. 

            8 - Click on Validate button to validate updated details. 

            Then click on Validate and submit button.  

Step 2 -ii) Using pattern 

                a) Creating pattern, Click on Pattern button

              1 - From date - Provide from date, in . In this exexample: 1st , febFebruary. 

              2 - To date - Provide to date, in . In this exexample: 1st julyJuly. 

              3 - Increase month by - Provide increase by month, in this ex - None. In this example :None.

              4 - Day of the Month - Provide day of the month, in this ex - . In this example: 5th 

              5 - Instalment Installment amount -  Provide instalment installment amount, in this ex - 1000 . In this example: 1000

              6 - Confirm - Click on confirm button. 

          b) Viewing created pattern, below showing screen shot screenshot of created pattern and schedule. 

Then click on submit and complete the loan process.     

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