Loan fee component types

About

A loan fee component is a functionality that allows adding different fee types used for loan product fee configuration and for creating new loan contract fee bookings.

Create loan fee component type

To create a new loan fee component, do the following:

Loans > Settings > Loan fee component types.
On the Loan fee component types page, click Add.

Enter the loan fee component parameters:
- Loan fee component type code - the name of the loan fee component. It should be a unique value.
- Translation (en) - the English translation of the loan fee component type code.
Click Add.

You can configure a loan fee component type to serve as a billing or reminder fee. See more details here.

View existing loan fee component types

To view an existing list of fee components:

Loans > Settings > Loan fee component types.

To improve your search results and visibility, you can use the BackOffice content feature.

Add penalty component

You can add a penalty to a fee type by following these steps:

Loans > Settings > Loan fee component types.
Find the fee type that you want to modify and click on it to open the details page.
Insert the penalty details:
- Loan fee penalty component type code - the name of the penalty component.
- Translation (en) - the English translation of the loan penalty component type code.

When a new fee or penalty is added to the loan module, it is automatically synced to the finance module. Therefore, you can configure the loan component and write-off rules.

Delete loan fee component type

Before deleting a loan fee component type, ensure that any associated penalty is removed first.

Delete fee component penalty

Loans > Settings > Loan fee component types.
Find the fee type that has a penalty component and click on it to open the details page.
Click the Delete button.