You can create a new loan product with the balloon repayment schedule. To do that, follow two steps:
Create new loan product:
Go to Loans > Products > Loan products.
Click on Add new product.
Fill in the balloon loan product parameters:
Schedule*
List
Select the loan schedule type:
BALLOON,
BALLOON_ADJUSTED.
Schedule re-generation rule*
List
Select which type of rule is followed for the repayment schedule if the contract is changed. Possible values:
FIXED_LENGTH - during schedule re-generation, the system keeps the schedule length the same as in the original loan contract.
FIXED_PAYMENT_LENGTH - during schedule re-generation, the system keeps the instalments and length the same as in the original loan contract. The difference between the amounts after re-generation is assigned to the last payment in the loan repayment schedule.
Loan amortisation period as number of months*
Number
If the schedule = BALLOON, enter the min, max boundaries, and the default values of the amortisation period as number of months. Note: actual amortisation and commitment periods can be set when creating a .
You can find information about the other loan product parameters in the .
