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.
The duration of the loan is 10 months.
The loan product name is annuity standard.
The borrower has to repay the loan on the first day of the month; the monthly repayment amount is 1032.86 GBP.
The corresponding loan product was created on the MB tenant.
The loan application score.
The loan payment channel code.
The loan will be paid out to the borrower's account.
Sample API call
To create a new loan application, make the following API call.
Sample request
Below is an example request body of the API call for creating a loan application.
{
"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 --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
A new loan application with the ID-1664282445 was registered in the system.
The loan application status is submitted. Now the bank can accept or decline the application.
The application date format is: YYYY-MM-DD.
