5.1 Loan Payment and Closure

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

This topic contains the following subtopics:

• Navigating and Fetching Account
  The steps to navigate and fetch the account number is covered in this topic.
• Paying by Pay Due Option
  You can pay the due loan amount by installment or existing arrears of a loan account. This option will be available only if there are existing arrears due as on the value date. This topic describes the systematic instructions for paying the due amount.
• Viewing Breakup of Amount Due
  You can view the breakup details of the due amount, only if you have selected the Installment Payment option from the Payment Type field in the Loan Payment and Closure tab.
• Viewing Simulation Details
  You can get a complete overview of the amount details are displayed in this widget on the right side of the screen.
• Paying by Pay Advance Option
  You can make payment by paying the advance amount. The Pay Advance option will not be available, if the loan account is in post maturity date.
• Paying by Partially Pay Off Option
  You can make payment by paying partial loan amount. Once the payment is done, the principal amount is reduced from the loan amount. The Partially Pay Off option will not available, if the loan account is in post maturity date.
• Paying by Close Account Option
  You can make payment by repaying the entire outstanding loan amount and close the loan account.
• Viewing, Modifying, or Waiving Fees
  You can view, modify, or waive the fees applied on the loan account. Only for the loan account for which fees are configured the Total Fees and Waive Fees field are displayed.
• Performing Settlement through CASA
  You can perform your settlement through your CASA account.
• Performing Settlement through Ledger
  You can perform the settlement using ledger.
• Performing Multi Mode Settlement
  You can perform settlement through multi mode option, that is, settlement can done through CASA and Ledger at once.