To create an instalment plan type:
Select Cards > Settings > Instalment plan types.
On the Instalment plan types page, you can see the list of existing instalment plan types, if any.
Click Add new instalment plan type and enter the following parameters:
Click Submit to create the instalment plan type.
Instalment plan type*
Text
Enter a name for the instalment plan type that you are creating.
Description*
Text
Enter a description for the instalment plan type.
Credit type*
List
Select a credit type from the drop-down menu.
Fee calculation rule
List
The defined rule for calculating the instalment plan fee.
Select one of the following values:
PERCENTAGE - The fee is a percentage of the instalment plan principal balance.
FIX - The fee is a fixed amount.
First payment lag days*
Number
The minimum number of days that must be between contract activation and the first invoice date or first invoice due date.
Enter a value between 1 - 31.
Interest calculation rule
List
The defined rule for calculating the instalment plan interest. Select one of the following values:
ACTUAL/360
ACTUAL/365
30/360
ACTUAL/ACTUAL
Number of repayments*
Number
Enter the instalment plan repayment period.
Reporting product code
List
Select a reporting product code from the drop-down menu.
The code represents the category of product or service for management reporting purposes. For more information, see .
Valid from* Valid until date
Date
Select the date range from which the plan type is valid after creation.
