Loan Interest Adjustment

Loan Interest Adjustment.

Use this sub-module to make adjustment to customer interest for certain loan products, whose interests might have been erroneously charged -

either overcharged or undercharged or omitted for a reason or the other.

NOTE : This operation is only applicable for loan products.

To access this window, click :Credit Management - > Operations - > Recurring Procedures - > Loan Interest Adjustment .

The following window opens up :

Loan Interest Adjustment Fig 1.

The operation involves only two adjustment types - Increase or Decrease, depending on what is to be achieved.

On the above screen:

Find the customer whose interest for a particular loan product is to be adjusted by clicking on the look up icon.

Remember to select loan as a search filter :

Loan Interest Adjustment Fig 2.

Select the customer and the details will be populated as below :

Loan Interest Adjustment Fig 3.

The rest of the fields will be populated with data.

Select the appropriate adjustment type from the drop down.

Input the amount to be affected by the adjustment

Define an appropriate reference.

Update to commit the changes into the system.

On successful completion you will get a pop up message confirming that the operation was successful.

Confirm the interest adjustment on the customer's interest statement for the particular loan affected.

The statement will appear as below :

Loan Interest Adjustment Fig 4.

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