Finalizing And Closing A Loan

A loan contract is automatically stopped when the last bill segment is generated for the loan. If the remaining principal balance (plus accrued interest) is less than or equal to the loan payment amount, the contract status is changed to pending stop and the bill segment is marked as the closing bill segment. The contract can then be stopped by the user (manually using the Contract page) or by the contract activation background process. When the customer pays the last bill, the loan contract is closed.