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## 5.3 Loan Payment and Closure

User can make the payment towards a loan account using the Loan Payment and Closure screen.

This topic contains the following subtopics:

- Billing Account
  A billing account is a system designed to organize and oversee all billing-related tasks, such as invoices, payment methods, and subscriptions, for an individual or organization.
- Non-Billing Account
  A non-billing account refers to an account that does not involve billing or payment activities, and is often used to hold funds or manage assets without the main purpose of incurring charges or processing payments.

Parent topic: Repayment