Overview

A loan is an amount of money (loan amount or principal) borrowed

from a lender in order to pay upfront for large expenses such as a

car, wedding, home improvements etc. The loan amount along

with the associated interest is then repaid, usually in fixed monthly

repayments, over an agreed period of time.

Key features include:

● Amortisation method options

● Loan Disbursement Options

● Loan Repayments

● Grace Period

● Repayment Notifications

● Overpayments and configurable overpayment impact

● Early Repayments

● Loan Top-ups

● Repayment holidays and configurable repayment holiday

impact

● Variable Interest Rate Cap & Interest Rate Floor

● Fees

● Interest and Fee Capitalisation

The Loan comes with the following Workflows:

● Loan

● Loan Closure

● Loan Repayment Day Change

● Loan Top-up

● Loan Early Repayment

● Loan Repayment Holiday Applicatio