4 Loans Repayments
This topic provides the systematic instructions to repay the loan against outstanding amounts using the Oracle Banking Digital Experience application.
The quick and hassle-free online loan repayment option allows the corporate user to initiate payments against outstanding amounts using the Digital Banking platform. The repayment can be an ad hoc repayment or an installment repayment.
Note:
- If the user makes a payment equal to the total outstanding loan amount (inclusive of arrears), it may lead to settlement of the loan account. Depending upon the configuration at the host system, premature penalty/charges may be applicable.
- If approver wants to modify the Loan Repayment, then Send to Modify option can be used instead of rejecting the repayment. Later, maker can make necessary changes to Loan Repayment and send for approval.
This topic contains the following sub-topics:
- Ad Hoc Repayment
This topic provides the systematic instructions to repay the loan due partially and completely. - Instalment Repayment
This topic provides the systematic instructions to repay loan for upcoming instalments or overdue instalments.