Loan Interest Accrual
Introduced in Version 13
Loan Interest will be accrued monthly on first day of every month for demand loans and one day before payment day for term loans.
To access the Loan Interest Accrual list, go to:
Home > Loan Management > Disbursement and Repayment > Loan Interest Accrual
A Loan interest accrual contains the details about:
- Loan: The Loan against which the interest has been accrued
- Applicant: The applicant type and the applicant name
- Pending Principal Amount: Pending Principal amount against the loan
- Interest Amount: Interest Amount accrued against the loan
- Is Paid: Is paid checkbox indicates whether the accrued loan interest has been paid or not
- Process Loan Interest Accrual is the process by which Loan Interest was accrued