7.1 Loan Payment Holiday

User can initiate a loan payment holiday for the loan account using the Loan Payment Holiday screen.

A repayment holiday is when the user allow the customer to take a break or holiday from the monthly principal repayments or EMI, thereby helping the customer to sort out any financial difficulties that the customer may be having.

This topic contains the following subtopics:

• Navigating and Fetching Account
  The steps to navigate and fetch the account number is covered in this topic.
• Applying Repayment Holiday for Upcoming Payments
  User can select the installments from next six installments displayed, for which repayment holiday is to be applied.
• Applying Repayment Holiday for a Date Range
  User can select the from and to date, based on which the repayment holiday will be applied to the schedules in these date range.
• Applying Repayment Holiday for Other Period
  User can select a reason to apply repayment holiday to the schedules.
• Viewing and Managing Fees
  User can view and manage the fees applied on the account.
• Viewing Revised Schedule
  User can view the revised schedule details based on the actions performed on the Payment Holiday Details tab.