1. Lease Collection User Guide
  2. Tools
  3. Lease Calculator
  4. Repayment Options

11.1.1 Repayment Options

If the calculation involves flexible repayment options, you can include the same through the following options:

Note:

This section is not available for Rent Factor type of lease calculation method.

Table 11-3 Repayment Options

Option Description
Flexible Repayment Allowed

Select the check box to include a flexible repayment schedule in calculation.

On selection, the Payment Change Schedule and Rate Schedule sections are displayed in addition to Repayment Schedule and Amortization Schedule sections.

Type

Select any of the following repayment type that you want to use from the drop-down list.

  • UNDEFINED
  • SKIP PERIOD
  • USER DEFINED
  • GRADUATED PAYMENT

will enable the months that can be selected for skipping payments, but not the maturity month and applicable only for MONTHLY PAYMENTS AND ARREARS METHOD.
  1. Depending on the repayment type selected, complete the following sections:
    • If you have selected the type as UNDEFINED (default), you can only amortize the payment schedule in respective section.
    • If you have selected the type as SKIP PERIOD, the Skip Months section is enabled and allows you to select the months which you want to exclude in repayment schedule by selecting the adjacent check box. However, you cannot exclude the maturity month and also this is applicable only for Monthly payments and ARREARS type of Rent Collection Method.
    • If you have selected the type as USER DEFINED, You can update Repayment Schedule or Rate schedule (explained in step 2 below) in the respective section. Click Add in Repayment Schedule section and specify the following information:

      Table 11-4 Repayment Schedule

      Field Do this
      Seq Specify the sequence number of the repayment schedule.
      Pmt Amt Specify the repayment amount borrower agreed to pay during the schedule.
      # of Payments Specify the number of payments borrower agreed to pay for stated repayment amount during this schedule.
      Generated View if the repayment schedule is generated.
    • If you have selected the type as GRADUATED PAYMENT, click Add in Payment Change Schedule section and specify the following information:

      Table 11-5 Payment Change Schedule

      Field Do this
      Seq Specify the sequence number in which the repayment is calculated. It prioritizes the calculation.
      Option Type

      Select one of the following repayment option type:

      STEP UP

      STEP DOWN

      BULLET
      Frequency Select the frequency of payment. The default value is TERM.
      Period Specify the loan period.
      # of Adj. Specify the number of times the STEP UP, STEP DOWN or BULLET needs to happen.
      Value

      Specify the value.

      For STEP DOWN, value ranges from 1 to 99

      For STEP UP, value ranges from 1 to 990

      For BULLET, value ranges from 1 to 99999999
  2. If the calculation includes a promotion, complete the Rate Schedule section. Click Add and specify the following information:

    Table 11-6 Rate Schedule

    Field Do this
    Seq Specify the sequence number of the rate schedule.
    Rate Specify the repayment amount borrower agreed to pay during the schedule.
    Start Dt Specify the date on which the borrower agreed to make the first payment.
  3. After you specify all the required information click Calculate. The system computes the payment change schedule and populates the Repayment Schedule section.

    When you fund the lease application, system copies repayment schedule information to the lease account on Customer Service screen where it appears in the Repayment Schedule section.

Parent topic: Lease Calculator