# Loan Product Fields—Additional Fields for Loans with Variable Terms based on Loan Cycle

**Loan Product Fields—Additional Fields for Loans with Variable Terms based on Loan Cycle**

*I raised an issue regarding the inconsistent use of terminology (i.e., loan cycle vs borrower cycle).*

Multiple variations for a Borrower Cycle can be set up for:

- Principal amounts (minimum, default, maximum)
- Number of Repayments (minimum, default, maximum)
- Interest rate (minimum, default, maximum)

See Loan Product Fields—Additional Fields for Loans with Variable Terms based on Loan Cycle#Examples.

Field Name (attribute) | Description | Example | Validations (if applicable) |
---|---|---|---|

To add Principal Variations, click Complete a row for each principal variation. | |||

Logical operator | Select equals or greater than from the drop-down list. | ||

Borrower cycle | Identify the Borrower cycle (see Glossary) affected by the principal variation. | ||

Minimum | The minimum principal amount. | ||

Default | The default principal amount. | ||

Maximum | The maximum principal amount. | ||

To add number of Repayments, click Complete a row for each number of repayments variation. | |||

Logical operator | Select equals or greater than from the drop-down list. | ||

Borrower cycle | Identify the Borrower cycle (see Glossary) affected by the number of Repayments variation. | ||

Minimum | The minimum number of repayments. | ||

Default | The default number of repayments. | ||

Maximum | The maximum number of repayments. | ||

To add Interest Rate variations, click Complete a row for each interest rate variation. | |||

Logical operator | Select equals or greater than from the drop-down list. | ||

Borrower cycle | Identify the Borrower cycle (see Glossary) affected by the Interest Rate variation. | ||

Minimum | The minimum interest rate. | ||

Default | The default interest rate. | ||

Maximum | The maximum interest rate. |

**Loan Product Fields—Additional Fields for Loans with Variable Terms based on Loan Cycle#Examples**

**Scenario One**: Variations will apply to the third and fourth loan accounts of this loan product for a client.

Implementation:

- Principal Variations:
- Add two rows to the
**Principal Variations for Borrow Cycle**section - In the first row, select
**equal**from the drop-down box - Type the number 3 into the borrower cycle field
- Type the minimum, default, and maximum principal amounts for borrower cycle three
- In the second row, select
**equal**from the drop-down box - Type the number 4 into the borrower cycle field
- Type the minimum, default and maximum principal amounts for borrower cycle four

- Add two rows to the
- Repeat the steps above for number of repayments and interest rate as applicable.

**Scenario Two**: Variations will apply to all loan accounts of this loan product after the first loan account for a client.

Implementation:

- Principal Variations:
- Add one row to the
**Principal Variations for Borrow Cycle**section - In the first row, select
**greater than**from the drop-down box - Type the number 1 into the borrower cycle field
- Type the minimum, default, and maximum principal amounts for borrower cycle three

- Add one row to the
- Repeat the steps above for number of repayments and interest rate, as applicable.