When you disburse a loan to a customer, you also decide on the terms of the repayment of the loan.

You may have your own repayment schemes.

For example, you may prefer monthly repayments of interest and repayment of the principal on maturity, and so on.

Or

You may design repayment schedules to suit the convenience of your customer. Your customer may want to make interest repayments annually, instead of every month.

In Oracle Lending, you can customize your repayment schedules for a loan product. The same schedules, by default, apply to the loans involving the product. However, when processing a specific loan, you can change the repayment schedule, which it acquires, from the product it involves.