3.6 Loan Disbursement

You can initiate a disbursement for the loan account using the Loan Disbursement screen. The disbursement can be a partial or full disbursement.

To view the simulation details:

Note:

The fields marked as Required are mandatory.
  1. On the Homepage, from Retail Lending Services mega menu, under Accounts, click Loan Disbursement. You can also open the screen by specifying Loan Disbursement in the search icon bar and selecting the screen.
    The Loan Disbursement screen is displayed.

    Figure 3-35 Loan Disbursement


    Description of Figure 3-35 follows
    Description of "Figure 3-35 Loan Disbursement"

  2. Select the appropriate option from the Search by field.
    The disbursement details are displayed.

    Figure 3-36 Loan Disbursement Details


    Description of Figure 3-36 follows
    Description of "Figure 3-36 Loan Disbursement Details"

  3. On the Loan Disbursement screen, perform the required actions. For more information on fields, refer to field description table below:

    Table 3-21 Loan Disbursement – Field Description

    Field Description
    Search by Users can search for an account number by using any of the available search criteria.

    The account number is set as the default search option. Users can specify the account number directly in the adjacent field or search for an account number by clicking the Search icon. Users can also search for the specific account number by providing customer ID, account number, or account name.

    Other search options available in the Search by field are Customer ID, SSN, Mobile Number, and Email.

    A specific customer ID can be searched by providing the customer name or customer ID. If SSN, mobile, or email IDs are chosen to find an account number, the respective IDs have to be input entirely in the adjacent field for the system to display the account number. For a given search criteria, multiple account numbers may be linked.

    For example, two or more account numbers can be linked to a single mobile number. In such cases, the system displays all the account number matches and the user can select the relevant account number on which to perform a servicing operation.

    Note:

    The label of the field adjacent to the Search by field changes dynamically. For example, if the Account number is chosen as the search criteria, the label of the adjacent field is displayed as the Account Number. If SSN is chosen as the search criteria, then the adjacent field would display the label as SSN.
    Disbursement Details In this section, the fields related to perform disbursement are displayed. Also, user can view the details of the existing disbursement.
    Value Date Select or specify the value date for making the payment.
    Yet to be disbursed Displays the total amount to be disbursed by the account holder.
    Disburse Now Specify the amount to be disbursed.
    Disbursement Reason Specify the reason for performing the disbursement.
    Total Fees Displays the total fees applicable on the account.

    Note:

    The Manage Fees link is displayed below this field. For more information, refer Manage Fees.
    Fees Treatment Displays the action to be taken for fee treatment. The options are:
    • Pay Now
    • Waive
    Due details This section displays the details for the disbursement amount due.
    Details Displays the disbursement details.
    Existing Displays the existing disbursement amount.
    New Displays the new disbursement amount.
    Settlement details This section displays the existing settlement details. If no settlement details are present for the account, then user can add new settlement details using the Add New Settlement button. For more information, refer Pay Through Customer Account, Pay Through Other Customer's Account, Pay Through Ledger, and Pay Through External Account.

    Note:

    This section is displayed, if Pay Now or Capitalize option is selected from the Fees Treatment field.
    To manage fees:
    1. Click the Manage Fees link.

      The Manage Fees section is displayed.

      Figure 3-37 Manage Fees


      Description of Figure 3-37 follows
      Description of "Figure 3-37 Manage Fees"

      For more information on fields, refer to field description table below:

      Table 3-22 Manage Fees - Field Description

      Field Description
      Fees Details Displays the details of the fees applicable for the account.
      Defaulted Amount Displays the fee amount defaulted.
      Modified Amount Specify the amount to be paid.
    2. Click Save.
    To view the revised schedule:
    1. Click Show Revised Schedule.

      The Revised Schedule section is displayed.

    Figure 3-38 Revised Schedule


    Description of Figure 3-38 follows
    Description of "Figure 3-38 Revised Schedule"

    For more information on fields, refer to field description table below:

    Table 3-23 Revised Schedule - Field Description

    Field Description
    Date Displays the year and the dates in a year when the arrear is raised.

    This column lists the years for which the schedule is generated. If you click the Closed Dropdown icon corresponding to a particular year, the monthly date schedule list for a year displays.

    Rate Displays the rate of interest.
    Principal Displays the amount of principal arrears.
    Interest Displays the amount of interest.
    Fees Displays the amount of fees.
    Due Displays the amount due.
    Balance Displays the balance amount after every installment.
    • If required, user can click Disbursement History in the Disbursement details section, to view more information on the disbursement details.

      The Disbursement history section is displayed.

      Figure 3-39 Disbursement History


      Description of Figure 3-39 follows
      Description of "Figure 3-39 Disbursement History"

      For more information on fields, refer to field description table below:

      Table 3-24 Disbursement history - Field Description

      Field Description
      Date Displays the disbursement date.
      Account Displays the account from which the disbursement was performed.
      Amount Displays the disbursement amount paid.
      Initiated By Displays the name by whom the disbursement was initiated.
  4. Click Submit.
    The screen is successfully submitted for authorization.

Parent topic: Accounts