Open and Disburse a Loan or Financing Account

Steps

Open an account

  1. Log in as LoanOfficer
  2. Select Loan Processing
  3. Select Loan Cycle
  4. Select New
  5. Enter a customer name or customer number (just type A)
  6. Select a customer from the list
  7. Select which type of loan account you want to open (Annuity, Murabahah etc)
  8. Press Enter on Product Code and choose a product
  9. Enter the loan term (must be within parameterized range)
  10. Enter the principal required (must be within parameterized range)
  11. Press Enter on Account Manager and select from the list
  12. Enter a free format Application Reference
  13. Click Ok
  14. Accept the interest or mark up rate (rates may have a variance to the Base Lending Rate)
  15. Click Ok
  16. Click Ok (this is used for credit scoring, deactivated)
  17. Open the loan account

Approve the loan

  1. Select Approval and follow through

Accept or Reject the loan

  1. Select Approval or Rejection and follow through

Please note that the steps are ususally done by different people

Disbursal

  1. Log in as SeniorTeller
  2. Select Financial
  3. Select Loans
  4. Choose a bank account (branchless mode, select twice to avoid mistakes)
  5. Select Transfer Disbursal
  6. Follow through