This topic describes the quick and convenient online loan and finance repayment option, which allows corporate users to initiate payments against outstanding amounts using the digital banking platform.

Repayments can be made by the user at any point of time, against a finance account mapped to him. The payment can be equal to, lower than, or more than the installment amount of the finance account. User can access account related transactions from the kebab menu.

To repay the loan partially or completely:

1. Perform anyone of the following navigation to access the Loan & Finance Repayment screen.
   • From the Dashboard, click Toggle menu, click Menu, then click Accounts, and then click Corporate Loans and Finances . Under Corporate Loans and Finances , click Loan & Finance Repayments.
   • From the Search bar, type Corporate Loans – Loan & Finance Repayments.
   • From the Dashboard, click Toggle menu, click Menu, then click Accounts, and then click Corporate Loans and Finances . Under Corporate Loans and Finances , click Overview, then click Loan & Finance Repayments of Quick Links widget.
   • Access through the kebab menu of transactions available under the Loan and Finances module.

   The Loan & Finance Repayment screen appears.

   Figure 4-1 Loan & Finance Repayments

   
   

   
   Description of "Figure 4-1 Loan & Finance Repayments"

   
   

   Note:

   The fields which are marked as Required are mandatory.

   For more information on fields, refer to the field description table.

   Table 4-1 Field Description

   Field Name	Description
   What do you want to do?	The options of paying off the loan partially or completely. The options are: Part Payment Full Payment The order in which the fields below are displayed, will vary based on the option selected in this field.
   Loan Account	All the Islamic Finance accounts of the user will be listed in a drop-down in masked format along with nicknames, if defined. The user can select the loan account which is to be repaid. The account number will be masked as per account number masking configurations. For more information on Account Nickname, refer Account Nickname.
   Amount Financed	The total amount financed, in local currency, that has been lent by the bank to the corporate party.
   Principal Outstanding	The outstanding principal balance that is yet to be repaid. This field appears if the user selects the Full Payment option in the Repayment Type field.
   Amount Overdue	The overdue amount, if any. This amount is the summation of the principal, interest and charges (if any).
   Source Account	The user’s linked current and savings accounts that can be debited to make the loan prepayment, will be listed in a lists. The account number will be masked as per account number masking configurations and nicknames, if set, will be displayed against each account. For more information on Account Nickname, refer Account Nickname. Note: All the active CASA accounts that the logged-in corporate user has access to including those of the primary party and the linked parties, will be listed.
   Balance	The current balance of the selected source account. This amount will be displayed against the source account field when an account has been chosen from the list.
   Interest	The interest component of the amount that is due. This field appears if the user selects the Full Payment option in the Repayment Type field.
   Charges	The charge that is due. This field appears if the user selects the Full Payment option in the Repayment Type field.
   Repayment Amount	The amount to be repaid. Payment currency is defaulted to loan account currency. This field is editable only if the user selects the Part Payment option. In this case, the amount should be less than the outstanding principal balance. If the user selects the Full Payment option, then this field displays the total outstanding amount, which will include the principal, the interest and pre-payment charges. Note: The Source Account should have sufficient balance to cover the repayment amount.

2. From the What do you want to do? field, select whether the loan must be paid off partially or fully.
3. From the Loan Account list, select the loan account which is to be repaid.
4. From the Source Account list, select the CASA account from which the repayment is to be made.
5. If the Part Payment option has been selected,
   1. In the Repayment Amount field, enter the repayment amount.
6. Perform one of the following actions:
   • Click Submit to submit the cheque book request.
   • Click Cancel to cancel the transaction.
7. The Review screen appears.
   Perform one of the following actions:

   • Verify the details and click Confirm.
   • Click Back to navigate back to the previous screen.
   • Click Cancel to cancel the transaction.
8. A message confirming the repayment appears, along with the transaction reference number.
9. Perform one of the following actions:
   • Click Home to go to the Dashboard screen.
   • Click View Account Details to visit the account details page.