2.8 Off Military Duty for Paid Off Loans

Overview

When the customer intimates off military duty when the account status is paidoff, currently system not allowing the action.

Scope

Works for variable rate loans.

Changes

• This change allows CUST_OFF_MLTRY_DUTY to work for paid-off variable-rate loans without changing the existing rules for non-paid loans.
• Allows paid-off variable-rate loans to bypass the RESTORE_CON_PMT validation error only when the transaction is CUST_OFF_MLTRY_DUTY, and the account status is PAID.
• For paid-off fixed-rate and variable-rate loans using either RESTORE_CON_PMT or CALC_NEW_PMT, keep the existing RATE_CHANGE processing to restore the interest rate from ACC_RATE_LAST.
• Skips the CHANGE_PMT_AMT transaction for both RESTORE_CON_PMT and CALC_NEW_PMT only when the loan status is PAID, because payment recalculation is not required after payoff. Retain existing CHANGE_PMT_AMT processing for non-paid loans.
• In case of reversal of payment, system reverses the paid off status and system should catchup the interest due on the loan account considering the interest rate impact posted due to SCRA off military duty transaction.