Create loan contract parameters
Here are the parameters for the loan contract. Mandatory fields are marked with a red asterisk (*).
Loan contract general info
Organisational unit *
Select the organisational unit.
Loan type *
Select the loan product that you want to use to create a loan contract.
Schedule type
This field is filled automatically once the loan product is selected.
Servicing account *
Select the loan servicing account.
Interest conditions
Interest rate type
This field is filled automatically once the loan product is selected.
Reference rate type
This field is filled automatically. It has value only if the loan product has a floating rate.
Interest rate *
Enter the loan interest rate.
Default margin rate
This field is filled automatically if applicable.
Margin rate *
Enter the margin rate. This field is applicable only if the loan product has a floating rate.
Base rate
This field is filled automatically if applicable.
Reference rate cap type
This field is filled automatically if applicable if the loan product has a floating rate.
Interest rate cap
This field is filled automatically if applicable if the loan product has a floating rate.
Loan contract details
Contract amount *
Enter the loan contract amount.
Loan period
Enter the loan period in months.
Number of payments
Enter the number of payments if you have not specified the loan period.
Score
Enter the loan contract score.
Note: This field is required when applicable to the loan product’s pricing rules.
Sale channel
Enter the sale channel name.
Note: This field is required when applicable to the loan product’s pricing rules.
Payment conditions
Repayments are made after every *
Select how often repayments are made. Enter a number, then choose whether it represents days, weeks, semi-months, or months.
Payment day *
Enter the day of the month or the day of the week (depending on the selected payment frequency) when the loan payment is made. For monthly payments, enter a value from 1 to 28; for weekly payments, select Monday through Sunday.
Monthly repayment amount*
Enter the monthly repayment amount. Note: This parameter is available for instalment loan products or credit line products with a fixed repayment amount rule.
Monthly repayment rate*
Enter the monthly repayment rate. Note: This field is available if the loan product is a credit line or a revolving credit line with the repayment amount rule = percentage of principal balance.
Max invoice amount
Enter the maximum invoice amount. Note: This field is available if the loan product is a credit line or a revolving credit line with the repayment amount rule = percentage of principal balance.
Min invoice amount
Enter the minimum invoice amount. Note: This field is available if the loan product is a credit line or a revolving credit line with the repayment amount rule = percentage of principal balance.
Payment free month
Select a payment-free month, if payment-free months are allowed for the product.
Repayment channel
Select a repayment channel from the list. If left blank, the product's default repayment channel will be used.
Campaigns
Campaign
Select one or more campaigns, if applicable.
Note: Multiple campaigns can be selected as long as the applied campaign benefits do not collide. Learn more about campaigns here.
Fees
Fee type
The fee type. This field is filled automatically.
Value *
Enter the fee amount.
Amount calculation rule
The amount calculation rule. This field is filled up automatically.
Booking rule
The fee booking rule. This field is filled automatically.
Repayment rule
The fee repayment rule. This field is filled automatically.
Payment instructions
Payment channel *
Select the payment channel.
Counterparty IBAN
Required if the payment channel requires an IBAN.
BIC
Required if the payment channel requires an IBAN.
Counterparty name *
Enter the counterparty name.
Payment amount *
Enter the payment amount.
Beneficiary account ID *
Select the beneficiary account number.
Note: This field appears only when the payment channel is selected as ACCOUNT-API.
Beneficiary account number *
Enter the beneficiary account number.
Note: This field appears only when the payment channel is selected as TRUSTLY.
Bank code *
Enter the bank code.
Note: This field appears only when the payment channel is selected as TRUSTLY.
Payment reference number
Enter the payment reference number.
Details
Enter the payment details.
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