1. Bilateral Loans User Manual
  2. Bilateral Loans
  3. Rate Quotation

1.4 Rate Quotation

Use rate quotation to inquire about the current Cost of Fund interest rate (COF).

In Rate Quotation RM receives request from the client to inquire current Cost of Fund interest rate (COF) so that client can book or avail the loan if required. These rates are generally available with treasury department of the banks. Once the rate is sourced, it blocks the rate with the treasury and send notification to client confirming the cost of funds rate. Once confirmed by client, RM proceeds to originate the loan.

The process of corporate loan origination is initiated by the Relationship Manager (RM) (or users with relevant rights) on behalf of an existing or a prospective customer. Based on the nature of the financing requirement the system can be configured to initiate the relevant Business process flow. For instance the Corporate Customer/Company may approach the bank for its credit needs related to working capital, expansion or for Trade financing through various channels like branch, mail or through external agents. The platform also enables the initiation of a Loan Request through Customer direct Banking channel through the REST based Service APIs. The Platform has a predefined Netflix Conductor process flow following a typical corporate loan initiation process. However this can be modified to suite the Bank's requirements. The list of stages that are required for a Loan origination process is pre-defined in Netflix Conductor process and the data segments that are applicable for every stage can be configured in Application Category maintenance. Based on this setup, system derives the process flow for every loan application.

The process flow pre-defined for Loan Origination is provided for quick reference:
  • Application Entry
  • Application Enrichment
  • Customer Acceptance
  • Initiate Drawdown
CONDUCTOR process drives the flow from one stage to another based on the combination of attribute value and process outcome combination. Following attributes are validated as part of CONDUCTOR process for Loan origination life cycle:
  • Existing Customer
  • Customer Acceptance Required
  • Loan Amount
  • Loan Currency

The basic details to request for servicing of a corporate loan for a borrower can be initiated using this Initiation screen, provided you have the required access rights.

To initiate Rate Quotation

  1. On the Homepage, from Corporate Lending, under Operations, click Bi-Lateral.
  2. On Bi-Lateral menu, click Rate Quotation.
    The Rate Quotation screen is displayed.

    Figure 1-5 Rate Quotation

    Description of Figure 1-5 follows
    Description of "Figure 1-5 Rate Quotation"
  3. On Rate Quotation screen, specify the fields. For more information on fields, refer to the field description table

    Table 1-4 Rate Quotation

    Field Description
    Customer Number Click Search to view and select the required Customer Identification number or you can also type the Customer Number. This field is applicable only when the Customer Type is selected as Existing.
    Customer Name Based on the Customer Number selected, the information is auto populated.
    Business Product Click Search to view and select the required business product. Based on the business product system derives the following details to process the loan application
    • Applicable stages and its data segments
    • Required documents and checklists
    • Stage level advices
    Application Date Select an effective application date from the drop-down calendar. The system defaults the current system date as the application initiation date.
    Loan Purpose/Intent Click Search to view and select the required loan purpose/intent.
    Priority Select a priority from the drop-down list.
    Facility Details Displays the list of all facilities that are created for the Customer Number. You can select the appropriate Facility ID which requires to be linked for the loan.
    Application Channel Click Search to view and select the required application channel
    Application Submitted By Select the details of the Agent/Customer who has submitted the application from the drop-down list.
    Name Enter the name of the Agent/Customer who has submitted the application.
    Email Enter the Email ID of the Agent/Customer who has submitted the application.
  4. Click Initiate to begin the process.

On submit of the screen, a unique Application Registration number is auto generated by the system, which are used throughout the process and for further tracking. Based on application category, namely Term Loan, Pre-shipment Finance, Post-shipment Finance, Project Financing, Working Capital and so on. The system derives the process flow for In Principal Approval and the process gets instantiated.

Based on the user rights, the system navigates you to the first manual stage of the process flow.

Related Topics

Parent topic: Bilateral Loans