The repayment scheduling allows you to choose the method which defines the loan product contract repayments.
Only the RECEIVABLE repayment method is available. The AUTOMATIC and INVOICE options have been discontinued.
Allows lenders to manage contract related repayments with periodic invoicing. The loan contract defines the invoicing periods. At the end of the period, usually monthly, the contractual repayment amounts like principal, interest and fees are fixed. And an invoice with a due date and total amount to pay is created. Once the borrower pays the invoice, the system allocates the payment between different receivables items and marks the respective contractual obligation as settled.
Payment interval in months*
Number
Enter the payment regularity in months. For example, principal payments are repaid every 1st month - use 1 as a value. If you would like to have payments made quarterly or annually, you have to enter 3 or 12. That means that payments are repaid every 3 or 12 months.
Repayment method*
List
Select the repayment method type, in the current example, Receivable.
Premature repayment allowed*
List
Select if the premature repayments are allowed or not for that loan product.
The predefined values are available:
Yes,
No.
Automatic small balance write off*
List
Select if the small balance is automatically written off:
Yes,
No.
Grace period days due to death*
Number
Enter the number of the grace period days due to the customer death.
Default invoice delivery method
List
Select the default invoice delivery method:
E-invoice,
Post.
Invoice date rule
List
Select the rule that defines the invoice creation date:
Fixed date,
No regular invoicing,
Backward from due date.
Minimum invoice amount*
Number
Enter the default monthly repayment amount for generating the invoice. Note: this field is available if the loan product is a credit line or a revolving credit line with the repayment amount rule = percentage of principal balance.
Invoice date
Number
Not applicable.
Invoice due date*
Number
Enter the monthly due day for loan repayment.
Death invoice minimum PRI balance
Number
Enter the death invoice minimum principal amount.
Repayment amount rule*
List
Select the repayment amount rule. Available values:
Fixed amount,
Percentage of principal balance.
Note: this parameter is available for revolving credit line or line of credit products when the invoice date rule = backward from due date / fixed date.
Invoice term days*
Number
Enter the number of days between the invoice creation date and the invoice due date. Note: this parameter is available for revolving credit line or line of credit products when the invoice date rule = backward from due date.
First repayment lag*
List
Enter the minimum number of days from the contract activation to the due date of the first invoice. Note: this parameter is available for revolving credit line or line of credit products when the invoice date rule = backward from due date / fixed date.
Minimum billing period days*
List
Enter the minimum number of days that need to pass from the previous invoice to generate a new invoice. Note: this parameter is available for revolving credit line or line of credit products when the invoice date rule = backward from due date / fixed date.
Invoice date rule*
List
Select the rule used for calculating invoice generation (billing) dates and invoice due dates. Predefined values available:
Schedule,
Fixed date,
Backward from due date - fixed invoice due date is set on product and contract, and billing date is calculated backwards from it by a given number of days.
Repayment reference number type
List
Select the reference number that connects repayments with loan contracts.
Allowed repayment
channels*
List
Select the repayment channels. Note: multiple choice is allowed.
Default repayment channel*
List
Select one of the options from the repayment channels.