1. Loan Service User Guide
  2. Accounts
  3. Consolidated Rollover
  4. Consolidation Tab

2.1.1 Consolidation Tab

Using this tab, you can select the accounts to be consolidated.

An error message is displayed for the specified loan account, if:
  • There are no active accounts.
  • Only one active account is available.
  • Currency of more than one active account is not the same.

To consolidate accounts:

  1. In the Consolidation tab, select the accounts to be consolidated, in the Accounts section.
  2. Click Consolidate.
    The Accounts section is minimized, and other related fields are displayed.

    Figure 2-3 Consolidated Rollover – Consolidation tab

    Description of Figure 2-3 follows
    Description of "Figure 2-3 Consolidated Rollover – Consolidation tab"

    Note:

    Click the Dropdown icon in the Accounts section, to view the account details.
  3. In the Consolidate tab, maintain other required details. For more information on fields, refer to the field description table below:

    Table 2-1 Consolidation tab – Field Description

    Field Description
    Customer ID Click the Search icon and select the customer number for initiating the activation of the customer’s loan account.

    Note:

    For more information on fetching the customer ID, refer Fetch Customer ID.
    Accounts This section displays the basic account details of the customer.
    <Loan Type> Displays the type of loan applied by the customer.
    Account Displays the account number of the loan product.
    Total Outstanding Displays the total outstanding amount of the loan product.
    Principal Outstanding Displays the principal outstanding amount of the loan product.
    Other Outstanding Displays the other outstanding amount of the loan product.
    Tenure Displays the tenure for the loan.
    Interest Rate Displays the interest rate applicable for the loan.
    Rollover Amount Displays the sum of the Total Outstanding of all the loan accounts that are selected for consolidation.

    Note:

    This field is displayed if you click Consolidate.
    Rollover Product Select the rollover product.

    Note:

    This field is displayed if you click Consolidate. The list displays product code and description. For more information, refer Fetch Rollover Product.
    Driver Account Select the driver’s account.

    Note:

    This field is displayed if you click Consolidate and the loan accounts you have selected for consolidation are of same product.
    • To fetch rollover product:
      1. Click Search icon from the Rollover Product field.

        The Rollover Product section is displayed.

        Figure 2-4 Rollover Product

        Description of Figure 2-4 follows
        Description of "Figure 2-4 Rollover Product"
      2. In the Rollover Product section, specify the product name in the Product field.
      3. Click Fetch.

        The product is fetched and displayed in the table.

      4. Select the product from the Product or Product Description list displayed in the table.
    • To modify the rollover amount:
      1. From the Rollover Amount field, click Modify.

        The Rollover Amount Breakup section is displayed. The amount breakup is displayed for the loan accounts selected for consolidation.

        Figure 2-5 Rollover Amount Breakup

        Description of Figure 2-5 follows
        Description of "Figure 2-5 Rollover Amount Breakup"
      2. In the Rollover Amount Breakup section, perform the required action.For more information on fields, refer to the field description table below:

        Table 2-2 Rollover Amount Breakup – Field Description

        Field Description
        <Loan Product and Loan Account Number> Displays the loan product selected for consolidation along with the loan account number.
        Principal Outstanding Displays the total principal outstanding amount for the specific loan account.
        Other Outstanding Displays the other outstanding amount including unbilled, for the specific loan account.

        Note:

        • You can click the Remove link from the specific loan account, to settle outstanding amount from the respective account’s settlement account.
        • As you remove the other outstanding amount, an indicator that the other outstanding amount will be debited from the loan’s settlement account along with account balance is displayed below this field.
        • On click of Remove, if the balance is insufficient, then a message with an indicator is displayed below this field. To add the amount back, click the Add Back link.
        Additional Principal Amount Specify the additional principal amount.
        Total Rollover Amount Displays the total rollover amount of all loan accounts, including Additional Principal Amount (if captured).
        Total Other Outstanding Settled Displays the total outstanding settled amount.
      3. Click OK.

        Note:

        If you have combined two loan accounts having the same settlement account and click OK, then system validates if the settlement account have sufficient balance to pay off the two loan account’s total amount. In case of insufficient balance, an error message is displayed that settlement account of the two accounts do have sufficient balance to pay off the Other Outstanding. Here, you need to click the Add Back link displayed next to Other Oustanding to proceed.
  4. Click Next.
    The Schedule tab is displayed.

Parent topic: Consolidated Rollover