Loan Maintenance / Credit Line / Credit Line Loan Creation

Credit Line Loan Creation

Interest rate codes are defined by the Administrator. See also: Interest Rate Codes

The Credit Line Loan Creation page allows you to create credit line loans.

 

Navigation: Loan Maintenance → Credit Line → Credit Line Loan Creation

Refer to the screenshot:
Credit Line Loan Creation page

To create a credit line loan, perform these steps:

1. Go to Loan Maintenance Credit Loans Credit Line Loans. Credit Line Loans page appears.

2. Click the New button button.

3. Enter the field values.

4. Click the Save button button.

 

Fields and Descriptions

Fields

Descriptions

Select a Loan

Contains a list of loans.

Loan No

Specifies loan number.

Loan Name

Specifies loan name.

Participation Party

Specifies the third party lender name. This lender agrees to share the loan amount with the existing lender for the specific borrower.

Select Original Loan

Specifies whether the borrower has multiple loans or not.

Credit Limit

Specifies maximum amount of credit availability.

Minimum Balance Amount

Specifies minimum balance to be maintained for the loan.

Interest Rate Code

Contains a list of rate codes.

Interest Rate Date

Specifies interest rate chargeable date for the loan.

Interest Rate

Specifies interest rate for the selected interest code.

Rate Adjustment

Specifies special interest rate defined for particular loan.

Total Interest

Specifies total interest calculated value.

Minimum Interest Rate

Specifies minimum interest rate for the selected loan.

Maximum Interest Rate

Specifies maximum interest rate for the selected loan.

Include Loan Balance Into Reserve

Select the check box to add loan balance to reserve amount in ABL. This will affect credit limit of the ABL customer.

Interest Add to Balance

Select the check box to add the calculated interest to the closing balance.

Clear the check box to display the calculated interest in a separate column. This will not be added to the closing balance.