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Loan product and loan types

piyushranjan edited this page · 1 revision

1. The system allows creating very complex loan products that match with different MFI work flow.

2. The system provides flexibility to create different loan types. They are as follows

  • Standard loan — Flat interest
  • Equated Weekly loan — Reducing balance
  • Bullet loan — repaid in single full payment or periodic interest repayments and single shot principal repayment
  • Take over loan — Take over an existing portfolio

3. The loan product can be customised to have different payment validations & loan validations.

  • amount must be paid in full or not at all
  • insurance must be mandatory
  • installments should be integer
  • scheduled dates must be center meeting days,
  • part of a group & passed grt?.

Additional validations can be applied using rules engine

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