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.
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.
To view an existing list of fee components:
Loans > Settings > Loan fee component types.
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.
Before deleting a loan fee component type, ensure that any associated penalty is removed first.
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.
Loans > Settings > Loan fee component types.
Find the fee component that you want to remove and click the delete icon.
You can customise the fee type used for billing administration and debt reminder fees. To do this, follow these steps:
Go to Administration > Settings > System Properties.
In System Properties, select loan-api.
Locate BILLING_ADMINISTRATION_FEE/REMINDER_FEE and the change icon to open the settings.
Enter the name of the loan fee component type to be used for billing/reminder fees.
Click Save.
