Create loan application

Use case

Here we will review how to create a loan application for an unsecured loan with the minimum set of data:

Use case data	API parameters with values
The person with the ID-3392 is a borrower and requested a loan.	...persons/ID-3392/applications
The borrower requested 10000 GBP.	"requestedMoney": { "amount": "10000", "currencyCode": "GBP" }
The duration of the loan is 10 months.	"loanPeriod": 10
The loan product name is annuity standard.	"loanTypeCode": "ANNUITY STANDARD"
The borrower has to repay the loan on the first day of the month; the monthly repayment amount is 1032.86 GBP.	"paymentDay": 1, "monthlyRepaymentMoney": { "amount": "1032.86", "currencyCode": "GBP" }
The corresponding loan product was created on the MB tenant.	"tenantCode": "MB"
The loan application score.	"applicationScore": 200
The loan payment channel code.	"paymentChannelCode": "TRUSTLY"
The loan will be paid out to the borrower's account.	"paymentInstructions": [ { "beneficiaryName": "Trevor Tuum", "beneficiaryIban": "GB44BARC20040423259459", "beneficiaryAccountId": "ID-12389", "money": { "amount": 10000, "currencyCode": "EUR" } } ]

Sample API call

To create a new loan application, make the following API call.

https://loan-api.sandbox.tuumplatform.com/api/v3/persons/{personId}/applications

See more information about the create loan application endpoint in the Tuum developer portal.

Sample request

Below is an example request body of the API call for creating a loan application.

JSON

{
  "requestedMoney": {
    "amount": "10000",
    "currencyCode": "EUR"
  },
  "loanPeriod": 10,
  "loanTypeCode": "ANNUITY STANDARD",
  "paymentDay": 1,
  "monthlyRepaymentMoney": {
    "amount": "1032.86",
    "currencyCode": "EUR"
  },
  "countryCode": "GB",
  "tenantCode": "MB",
  "applicationScore": 200,
  "paymentChannelCode": "TRUSTLY",
    "paymentInstructions": [
    {
      "beneficiaryName": "Trevor Tuum",
      "beneficiaryIban": "GB44BARC20040423259459",
      "beneficiaryAccountId": "ID-12389",
      "money": {
        "amount": 10000,
        "currencyCode": "EUR"
      }
    }
  ]
  }

cURL

curl --location 'https://loan-api.sandbox.tuumplatform.com/api/v3/persons/ID-3392/applications' \
--header 'x-channel-code: system' \
--header 'x-auth-token: eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzI1NiJ9.eyJuYW1lIjoiSm9obiBPZmZpY2VyIiwiZW1wbG95ZWVJZCI6IjEiLCJ0ZW5hbnRDb2RlIjoiTUIiLCJleHBpcnlEVGltZSI6IjIwMjQtMDktMDJUMTI6NDE6MTAiLCJleHAiOjE3MjUyODA4NzAsInJvbGVzIjpbIkFETUlOIl19.SKHx8FLUnS31w0DVyp2AxNG8mVYQX8XbAOYuznUhCK0' \
--header 'Content-Type: application/json' \
--data '{
  "requestedMoney": {
    "amount": "10000",
    "currencyCode": "EUR"
  },
  "loanPeriod": 10,
  "loanTypeCode": "ANNUITY STANDARD",
  "paymentDay": 1,
  "monthlyRepaymentMoney": {
    "amount": "1032.86",
    "currencyCode": "EUR"
  },
  "countryCode": "GB",
  "tenantCode": "MB",
  "applicationScore": 200,
  "paymentChannelCode": "TRUSTLY",
    "paymentInstructions": [
    {
      "beneficiaryName": "Trevor Tuum",
      "beneficiaryIban": "GB44BARC20040423259459",
      "beneficiaryAccountId": "ID-12389",
      "money": {
        "amount": 10000,
        "currencyCode": "EUR"
      }
    }
  ]
  }'

Sample response

Below you find an example response body to the API call above.

Response

{
    "errors": null,
    "validationErrors": null,
    "data": {
        "applicationId": "ID-1664282445",
        "personId": "ID-3392",
        "money": {
            "amount": 10000.00,
            "currencyCode": "EUR"
        },
        "loanPeriod": 10,
        "statusCode": "SUBMITTED",
        "loanTypeCode": "ANNUITY STANDARD",
        "purpose": null,
        "applicationDate": "2023-06-29",
        "invoiceDay": null,
        "paymentDay": 1,
        "servicingAccountId": null,
        "scheduleTypeCode": "ANNUITY",
        "countryCode": "GB",
        "monthlyRepaymentMoney": {
            "amount": 1032.86,
            "currencyCode": "EUR"
        },
        "monthlyRepaymentRate": null,
        "tenantCode": "MB",
        "applicationScore": 200,
        "applicationScoreDueDate": null,
        "maxMoney": null,
        "maxPeriod": null,
        "statusCodeReasons": null,
        "source": null,
        "interestRate": null,
        "channelCode": "system",
        "additionalData": null,
        "depositAmount": null,
        "loanToValue": null,
        "paymentFreeMonths": null,
        "lastChangeDate": null,
        "campaignIds": [],
        "limitUsageDate": null,
        "contractEndDate": null,
        "maxInvoiceMoney": null,
        "minInvoiceMoney": null
    }
}

Result

The outcome of the API call is the complete set of loan application data. Including the parameters generated by the Tuum system:

Parameter and value	Explanation
"applicationId": "ID-1664282445"	A new loan application with the ID-1664282445 was registered in the system.
"statusCode": "SUBMITTED"	The loan application status is submitted. Now the bank can accept or decline the application.
"applicationDate": "2023-06-29"	The application date format is: YYYY-MM-DD.