Make Partial Loan Repayment

Make Partial Loan Repayment

From the Customer Overview page, select “Repay Loan Partial” from the menu.  Select the desired loan account to repay in the “Account To” field.  Enter the repayment amount into the “Amount to be paid” field.  If the settlement account has insufficient balance to cover the repayment, then the field will be highlighted.  There are 2 modes for making a partial loan repayment; a) Keep maturity date, which will result in a new monthly instalment amount, and b) Don’t keep maturity date, which results in a new maturity date and no change to the monthly instalment amount.  To toggle between the 2 modes, click on the “Keep Maturity Date” checkbox.  All other fields are optional.

Figure 3.12a – Make Partial Loan Repayment, Keep Maturity Date

After clicking “Proceed to Calculate”, a confirmation popup will appear, indicating the Old and New loan details.  The Teller may click on “Make Partial Repayment” to confirm the repayment, or “Cancel” to abort the repayment.  Figure 3.17 shows the example of the “Keep Maturity Date” mode, resulting in a new monthly instalment amount.

Figure 3.12b – Partial Loan Repayment, Keep Maturity Date

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