1.5.4 Payment

Loan Payment option enables the user to make pre-payment, partial payment, or repayment towards the existing loan contract.

To initiate Loan Payment

  1. On the Homepage, from Corporate Lending, under Operations, click Bi-lateral.
  2. On Bi-lateral menu, click Loan Payment.
    The Loan Payment screen is displayed.

    Figure 1-77 Loan Payment

    Description of Figure 1-77 follows
    Description of "Figure 1-77 Loan Payment"
    Click Advanced Search to provide further details to search for a loan contract as illustrated.

    Figure 1-78 Advanced Search

    Description of Figure 1-78 follows
    Description of "Figure 1-78 Advanced Search"
  3. In basic search you can search based on customer or facility code to choose a contract that needs to be serviced.
    • Customer Number- The LOV attached to this field is the list the customer available
    • Facility Code - The LOV attached to this field is the list the facility codes in the system.
  4. Click Search to list the contracts that meets the search criteria for you to choose a contract number. Advanced search option can be activated using the toggle in the search bar where you can additionally search based on Loan start and end dates or the Loan currency and amount.

    After selecting a contract system populates the appropriate business product applicable for the loan contract. You can choose a business product and the value date for the changes to be effective. On click of initiate, a unique Application Registration number is auto generated by the system, which are used throughout the process and for further tracking. The system derives the process flow for Loan payment with the configured list of data segments and the process gets instantiated.

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

    This topic contains the following sub-topics:

Parent topic: Loan Servicing