2.10.1.10 Payment Details

This topic describes the systematic instructions to Payment Details screen. This screen is used to capture payment details for the loan.

Allows users to capture the settlement details for Payment processing.

1. From Loan Servicing, click Payment Details tab provide the required details.
   The Payment Details screen displays.

   Figure 2-21 Payment Details

   
   

   
   Description of "Figure 2-21 Payment Details"

   
   

   Table 2-24 Payment Details - Field Description

   Field	Description
   Payment Type	Select the payment type - Repayment or Prepayment.
   Effective Date	Select the value date of the payment.
   Limit Date	System will default the loan maturity date for Prepayment type and Effective date for Repayment type. User will be allowed to modify.
   Loan Contract Ref No	Displays the loan contract reference number for which the payment is initiated.
   Loan Amount	Displays the loan amount of the loan contract reference.

   Note:

   On click Fetch Details, system displays the component wise (Principal, Interest, or Penalty) dues applicable for the loan contract.

   Table 2-25 Payment Details - Field Description

   Field	Description
   Component Name	Displays the list of all component names for the selected loan contract reference.
   Amount Due	Displays the component wise amount due for the selected loan contract reference.
   Over Due	Displays the overdue accrued for the component of the selected loan contract reference.
   Outstanding Amount	Displays the total outstanding amount for the component of the loan contract reference.
   Payable Amount	Default the total payable amount for the component that is due for the contract. Users can modify the required amount.
   Advance	Enter the advance amount applicable for the loan.
   Prepayment Penalty	Enter the prepayment penalty amount applicable for the loan.
   Total Settlement amount	Displays the sum of all the amount that needs to be settled by the customer.

2. Click Save & Close, to save and close the details.
3. Click Next, to navigate to the next screen.