Prepay Loan

Once the Loan Application is approved you will get all the details as below,
Create Loan - Loan Active

Click on Prepay Loan tab. It specifies the entire loan amount is paid before the repayment period ends.

Once you click on the Prepay Loan it will ask for the following details.

Create Loan - Prepay Loan

Menu Name and Description

  • Transaction date (*) Specifies the amount transaction date
  • Transaction amount (*) – Specifies how much amount you want to transfer
  • Principal – Principal Value will be automatically updated by the system
  • Interest amount (*) – Specifies the interest amount for the particular period
  • Repayment Type (*) – Specifies the repayment type (eg, Manual)
  • Payment type (*) – Select Money Transfer
  • Show Payment Details – Click on the (+) sign and you will get the below details
  • Account# – Specify your bank account number
  • Cheque# – Specify your Cheque number
  • Routing code – Specify your routing code (You can get this in the bottom left corner of your cheque)
  • Receipt# – Specify the receipt number
  • Bank# – Specify the Name of the Bank
  • Note – Specify if any notes for future reference
Update the above details and click on Submit.