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)
Principal Variation for Borrower Cycle To add Principal Variations, click Add until there are sufficient rows for the principal variations required. 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.
Number of Repayments Variation for Borrower Cycle To add number of Repayments, click Add until there are sufficient rows for the number of repayments variations required. 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.
Interest Rate Variation for Borrower Cycle To add Interest Rate variations, click Add until there are sufficient rows for the number of interest rate variations required. 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:
1. Add two rows to the Principal Variations for Borrow Cycle section
2. In the first row, select equal from the drop-down box
3. Type the number 3 into the borrower cycle field
4. Type the minimum, default, and maximum principal amounts for borrower cycle three
5. In the second row, select equal from the drop-down box
6. Type the number 4 into the borrower cycle field
7. Type the minimum, default and maximum principal amounts for borrower cycle four
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:
1. Add one row to the Principal Variations for Borrow Cycle section
2. In the first row, select greater than from the drop-down box
3. Type the number 1 into the borrower cycle field
4. Type the minimum, default, and maximum principal amounts for borrower cycle three
Repeat the steps above for number of repayments and interest rate, as applicable.