1.8 Disbursement & Repayment

This topic describes the section of the application form where you can specify the account for loan disbursement, following successful processing and sanction of your application.

You can also specify information pertaining to the account from which you intend on making loan repayments.

In case you are an existing online banking customer, all the checking and savings accounts that you hold with the bank will be displayed and available for selection. You can alternately, specify information of accounts that you hold with other banks if you want the loan amount disbursed into an external bank account or wish to make repayments from an account held with another bank.

Figure 1-12 Disbursement Details

Description of "Figure 1-12 Disbursement Details"

Note:

The fields which are marked as Required are mandatory.

For more information on fields, refer to the field description table.

Table 1-11 Disbursement Details - Field Description

Field Name	Description
Capture Later	The option to capture disbursement account details at a later date. Select this option if you do not wish to specify information of the account in which the loan is to be disbursed, at present.
Loan amount to be credited in account held with	Specify whether the loan amount is to be credited into an account that is held with the same bank or into an account held with another bank. The options are: Own Internal Transfer Other Bank This field will only be displayed in case the primary applicant is an existing online banking customer that has active savings or checking accounts with the bank.
Account Number	The account number in which the loan is to be disbursed.
Confirm Account Number	Re-enter the account number to confirm the same.
Account Holder Name	The name of the account holder.
Bank Code	The Bank code through which the transfer is to be made.
Verify	Click on the link to verify the Bank Code defined in the Bank Code field.
Lookup Bank Code	The lookup for the Bank Code search. The below fields appears in modal window if the Lookup Bank Code link is selected.
Bank Name	The facility to search for the bank code based on the bank name.
Search Results	Based on search criteria or bank Code, fetch bank details.
Bank Code	The facility to lookup bank details based on Bank Identifier code through which the transfer is to be made.
Bank Name	The name of the bank in which the account is held.
Address	The address of the bank in which the account is held.

1. Under the Disbursement section; Perform any of the following actions:
   1. Select option Capture Later if you wish to specify disbursement account details at a later date.
   2. In the Loan amount to be credited in account held with field, specify in which account the loan amount is to be credited in the Disbursement Details section.
      1. If you have selected the Own Internal Transfer option:
         1. Select an account from the Account Number list.
      2. If you have selected the Other Bank option:
         1. In the Account Number field, enter the account number in which the loan is to be disbursed.
         2. In the Confirm Account Number field, re-enter the account number to confirm the same.
         3. In the Account Holder Name field, enter the name of the account holder in whose account the loan is to be disbursed.
         4. In the Bank Code field, enter the bank code through which the transfer is to be made.
   3. Perform any of the following actions:
      1. Click on the Verify link to verify the Bank Code defined in the Bank Code field. The system fetch bank details based on Bank Code.
      2. Click on Lookup Bank Code link, and enter the details to search the Bank Code through the lookup option provided.
2. Click Continue to proceed to the next step in the application.
   The Repayment tab appears.

   Figure 1-13 Repayment Details

   
   

   
   Description of "Figure 1-13 Repayment Details"

   
   

   Note:

   The fields which are marked as Required are mandatory.

   For more information on fields, refer to the field description table.

   Table 1-12 Repayment Details - Field Description

   Field Name	Description
   Capture Later	The option to capture repayment account details at a later date. Select this option if you do not wish to specify information of the account from which the loan is to be repaid, at present.
   Same as disbursement account details?	Specify whether loan repayments will be made from the same account defined for disbursement or if the account will be different. The options are: Yes No
   Repay loan from account held with	Specify whether loan repayments will be made from an account held with the same back or whether repayments will be made from an account held with another bank. The options are: Own Internal Transfer Other Bank This field will be displayed only if the primary applicant is an existing online banking customer that has active Savings or Checking accounts with the bank.
   Account Number	The account number from which loan repayments will be made. In case Own Internal Transfer is selected, this field will be a drop-down and will list all the active savings and checking accounts of the primary applicant. No other fields will be displayed in this case.
   Confirm Account Number	Re-enter the account number to confirm the same.
   Account Holder Name	The name of the account holder.
   Bank Code	The payment network code through which the transfer will be made.
   Verify	Click on the link to verify the payment network code defined in the Bank Code field.
   Lookup Bank Code	The option to search for payment network code. The below fields appears in modal window if the Lookup Bank Code link is selected.
   Bank Name	The facility to search for the bank code based on the bank name.
   Search Results	Based on search criteria or bank ode, fetch bank details.
   Bank Code	The facility to lookup bank details based on payment bank code through which the transfer is to be made.
   Bank Name	The name of the bank in which the account is held.
   Address	The address of the bank in which the account is held.

3. Under the Repayment sub-section, Perform one of the following actions:
   1. Select the option Capture Later if you wish to specify repayment account details at a later date.
   2. In the Same as disbursement account details? field, specify whether the account details specified in the Disbursement Details section is same for loan repayment.
   3. In the Repay loan from account held with field, specify the account from which loan repayments will be made.
      If you select the option Own Internal Transfer;

      1. From the Account Number list, select a savings or checking account from which you wish to make regular loan repayments.

      If you have selected the option Other Bank;

      1. From the Account Number list, enter the account number in which the loan is to be disbursed.
      2. In the Confirm Account Number field, re-enter the account number to confirm the same.
      3. In the Account Holder Name field, enter the name of the account holder in whose account the loan is to be disbursed.
      4. In the Bank Code field, enter the bank code through which the transfer is to be made.
      5. Perform any of the following actions:
         1. Click on the Verify link to verify the Bank Code defined in the Bank Code field. The system fetch bank details based on Bank Code.
         2. Click on Lookup Bank Code link, and enter the details to search the Bank Code through the lookup option provided.
4. Perform any of the following actions:
   1. Click Continue to proceed to the next step in the application.
   2. Click Back to navigate back to the previous step in the application.
   3. Click the Scan QR-code anytime to continue on mobile link to continue the application on mobile or tablet device.
   4. Under the kebab menu, perform one of the following actions:
      1. Click the Save and Continue Later option to save the application.
      2. Click the Continue on Mobile option to continue the application on a mobile device.