Use this section to set up the main rules for this loan product. These details control which micro lender the product belongs to, what type of credit agreement applies, the loan amount limits, and how repayments should be structured.
Please make sure the product name and limits are clear, as these settings will be used when preparing loan offers for customers.
Use this section to confirm whether interest applies to this loan product and how it should be calculated.
The interest method, rate, and calculation basis entered here will be used when generating the customer’s repayment and loan cost breakdown.
Use this section to define whether a once-off initiation fee applies when this loan product is issued.
These settings control the base fee, threshold amount, percentage above the threshold, and any maximum cap that should apply to the initiation fee calculation.
Use this section to confirm whether a monthly service fee applies to this loan product.
If enabled, the monthly service fee will be included in the repayment breakdown. You can also confirm whether the first month’s service fee should be pro-rated.
Use this section to confirm whether credit life cover is required or available for this loan product.
If credit life is enabled, select the provider, rate, and calculation basis. Where applicable, the customer should also be able to provide their own suitable substitute policy.
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