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Note that previous loan can still have late payments and be considered successfully repaid.
Other information
- The min, max and default values can be modified from edit loan product. If this is done, it should be reflected in all the new loan accounts created after the change has been made. It will not affect the loan accounts already present.
- The changes should be applied immediately. This is NOT a batch job.
- The loan cycle to be considered is the product loan cycle.
- When a new loan account is created for a customer, the system should display the min, max and default loan amounts as per the specifications above. All the validations will be as per these values.
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