The prerequisites for creating top-up

Before creating a new top-up contract version, confirm the new contract version conditions with the borrower. Then, if required, you can generate a new schedule and download it to the CSV format.

To calculate the new schedule:

2. Fill in the required fields > click the Recalculate button.

Click the Download schedule button to get the CSV file.

Loan top up

Here you will find instructions on creating a top-up for an existing loan contract using the BackOffice. The top-up is a feature that allows you to disburse an additional amount under an existing loan contract. With the top-up, the loan principal balance increases by the amount of the additional top-up amount disbursement. And the system re-calculates the repayment schedule.

To top-up the loan contract, you must complete the following steps:

To create a new top-up loan contract version:

• Find the loan contract in question:

  1. Loans > Search > Contracts.

  2. Fill in the search parameters > Search.

  3. To access the loan contract details, click the loan Contract number.

• Create a top-up version:

  1. Go to the Contract tab > click the Create Top-up version button.

Activate a new contract version:

1. Click the draft version to open it.

2. Click the Activate button.

Top-up parameters

To configure the top-up version, fill in the following parameters:

• Schedule re-generation rule - select the type of the loan contract re-generation rule:

  • FIXED_LENGTH - choose this if you want the contract end date to remain the same. The monthly repayment amount is increased to fit the fixed contract length.

  • FIXED_PAYMENT - choose this if you want the monthly repayment amount to remain the same. The contract end date is prolonged to fit the fixed monthly payment.

• Top-up amount - enter the top-up amount.

• Loan period - enter the loan period in months if the re-generation rule is fixed length.

• Monthly amount - enter the monthly loan amount if the re-generation rule is fixed payment.

• Payment day - enter the new payment day date.

• Interest rate - enter the interest rate.

• Fee - enter the fee amount if applicable.

• Change reason - select the loan contract change reason: OTHER.

Payment data

After filling up the top-up information, fill in the payment instruction details: