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Loan Account Fields

Field Name (attribute)DescriptionExampleValidations (if applicable)
Details Section
Product

Product is the name of the loan product that the loan account is based upon. For a new loan account, the loan account form will be populated with the loan product defaults and rules when the loan product name is selected from the list. Depending on the loan product definition some fields may or may not be visible on the loan account form.

Cannot be changed once a loan account is approved.

Home Building Loan A

Required field

Select from list

Loan Officer

Loan officer is the financial institution representative who has responsibility for, and interacts with, the client / group associated with a loan account.

 

Optional

Select from list

Loan Purpose

The loan purpose provides an indication of how the funds provided through the loan will be directed and can be used to group loans with the same purpose for reporting. The values in the list are defined by your system administrator.

Cannot be changed once a loan account is approved.

Agriculture

Optional

Select from list

Fund

The fund value will be filled in from the loan product definition. It may be modified on the loan account if a different fund should be linked to the loan account.

Cannot be changed once a loan account is approved.

 

Optional

Blank, default, or select from list

Submitted on

The date the loan account application was received. The date may be a date in the past or today's date. It cannot be future-dated. Select the date from the pop-up calendar or enter the date in the prescribed date format.

Cannot be changed once a loan account is approved.

 

01 Jan 2013

Required field

Date

dd mmm yyyy

Disbursement on

The date that the loan account is expected to be disbursed.

Cannot be changed once a loan account is approved.

08 Jan 2013

Required field

Date

dd mmm yyyy

Terms Section

Principal

 

Principal is the amount of money to be loaned. The principal will default to the value set in the loan product. The principal may be modified but must be within any minimum to maximum range specified on the loan product.

10000

Required fields

Numeric

Loan termThe loan term is the length of time the client or group agrees to repay the loan. The loan term will default to the value set in the loan product. The loan term may be modified but must be within any minimum to maximum range specified on the loan product.52 Weeks

Required field

Numeric and select from list

Number of repayments

The number of repayments specifies the number of repayments to be made from the time the loan is disbursed until the financial obligation of the loan is expected to be met. The number of repayments will default to the value set in the loan product. The number of repayments may be modified but must be within any minimum to maximum range specified on the loan product.

26

Required fields

 

Repaid everyRepaid every specifies the frequency of repayments. The frequency will default to the value set in the loan product. The frequency may be modified.2 Weeks

Required field

Numeric and select from list

First repayment on   
Interest charged from   

Nominal interest rate

 

 

 

Interest method

 

  
AmortizationThe Amortization value is input to calculating the repayment amounts for repayment of the loan. Select Equal installments or Equal principal payments from the Amortization list. If Equal installments is selected all repayment amounts will be equal but the interest, fees, penalties, and principal amounts will vary with each repayment. If Equal principal payments is selected, the repayments amounts will vary depending upon the interest, fees, and penalty amounts in the repayment and the principal amount will be the same for all repayments. Required field
Interest calculation periodHow does this relate to the nominal interest rate "period"....  
Arrears toleranceIs this a currency amount or days or ?  
Interest free period   
Repayment strategy

 

  

Moratorium

On principal payment

On interest payment

On Arrears Ageing

I need a tutorial on the moratorium idea and implementation....  
Link savings

 

5 
Maximum number of days a loan
may be overdue before becoming a
NPA (non performing asset) 

A loan is a NPA once the number of days entered into this field is exceeded. If this field is blank, the loan will be an NPA the after a scheduled payment is missed.

If 35 is specified, as in the example value, the loan will be an NPA on the 35th (or 36th) day after a scheduled payment is missed.

35 
Charges Section
ChargesSelect a charge from the Charges list and click Add. If more charges apply to the loan product, select additional charges and click Add for each.  
Overdue ChargesSelect an overdue charge from the Overdue Charges list and click Add. If more overdue charges apply to the loan product, select additional overdue charges and click Add for each.  
Collateral

Collateral

Item

Value

Description

 

  
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