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:
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:
Fill in the required fields > click the Recalculate button.
Click the Download schedule button to get the CSV file.
To create a new top-up loan contract version:
Find the loan contract in question:
Loans > Search > Contracts.
Fill in the search parameters > Search.
To access the loan contract details, click the loan Contract number.
Create a top-up version:
Go to the Contract tab > click the Create Top-up version button.
Fill in the new contract version details > Create.
Activate a new contract version:
Click the sign on the Version tab to find a draft version.
Click the draft version to open it.
Click the Activate button.
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.
After filling up the top-up information, fill in the payment instruction details:
