5.2.3.9 Specifying Loan Statement Details

The following loan statement details may be maintained:

• Statement Type
  You can specify if a loan statement needs to be generated for the drawdown. If loan statements are to be generated, you can specify the type of statement you want to generate. The options are:

  • Summary
  • Detailed

  If you do not want to generate loan statement, select the None option.
• Cycle/On
  If loan statements have to be generated for the drawdown, you have to indicate the frequency of statement generation. You can set the frequency to any one of the following options:

  • Annual
  • Semi-Annual
  • Quarterly
  • Monthly
  • Fortnightly
  • Weekly
  • Daily

  Based on the frequency that you specify, you can also indicate the month/weekday for the generation of the statement. Thus, if you have set the loan statement generation frequency to Annual, Semi-Annual, or Quarterly, you have to indicate the month in which the first statement is to be generated.
  Similarly, if you have indicated that statement generation is to be on a fortnightly or weekly basis, you should specify the day of the week on which the statement is to be generated. For instance, if you indicate that a weekly generation should be done on Thursday, the statement is generated every week on Thursdays.

  When the frequency is set to monthly, then by default, the statement is generated on the last day of every month. You can also select a different day from the drop-down menu.