eRKTM-LN fulfils an organization's requirements for loan management that accommodates various types of loan, such as computer, vehicle and home with the development of loan structure, it helps minimize interest and charges, which bears purpose whether the organization wants to expand its business, fund and investment or manage cash flow.
Features
Master Setup - Loan parameter sets up the control parameters for loan applications.
Transaction Setup - Loan transaction can be created, maintained and capture loan application details, such as loan code, employee who applied for loan, payment mode, loan amount, interest rate, loan duration, loan start date, duration number for month of payment, payment date, total interest receivable, outstanding principal amount, balance owing, last instalment date and Settlement transaction captures the settlement or payment of the loan transaction and performs repayment of loan in different mode, such as payroll deduction or payment by cash.
Query the database for information by loan date, branch ID, user ID, applicant name and loan decision.
It has a built-in check for eligibility, automatic or manual deduction from salary.
Determines eligibility to borrow.
Determines the maximum amount to borrow and the minimum loan repayment.
Determines the repayment schedule for any amount borrowed, up-to the maximum authorized.
Master / secondary loans that prevent collateral from being released prematurely.
Revolving credit accounts for equity-based or overdraft protection accounts.
User definable loan types.
Maintains unlimited loan codes.
Tracking of non-accrual, partial charge-off and fully charge-off loans.
Monthly, year-to-date, last year and life-to-date information tracking.
Past due loan tracking by 10/30/60/90-day counters.
Ability to set limitations to a particular type of loan.
Captures the settlement or payment of the loan transactions.
Views the amortization (loan pay-back) schedule for payment, interest paid, beginning balance, ending balance, principal paid and accumulative interest.
Automatic loan approval / rejection.
Ability to perform validation of fund allocation.
Calculates the pay-off term for a higher monthly repayment, up-to-the maximum authorized.
Computes payment, interest rate, loan years and price.
Determines when to advance a due date based on a partial payment.
Real estate and variable rate loans.
Variable and level rates monthly renewable calculations and insurance posting.
Adjustable rate mortgages easily maintained.
Year-end mortgage statements.
Variable rate features for any loan.
Allowance for early settlement of outstanding balance.
Get a loan balance for an existing loan.
Able to define principle and interest of the loan.
Exact loan disclosures and payment.
Optional Features
Loan Master maintains an unlimited loan codes with user definable loan types. It has the ability to select formula master of interest that has been set up in other modules, in order to set limitations to a particular type of loan.
Automatically sends the loan decision notification types (accept, decline or conditional accept) to the application source via fax, email and/or print-out.
It has the ability to accept definable formula for calculation of loan repayment.
Computes payment of down payment.
Input down payment, fees and taxes as a percentage or monetary value and then charge back and forth with a simple click of the icon.
Automatic monitoring of loan pending, such as applications, escalations, reminders, notifications to lawyers.
Reports
Automatic or manual deduction from salary.
Monthly statement by batch and individual basis.
Summary and statistical.
Repayment schedule.
Acceptance memorandum.
Statement of repayment and loan.
Year-end mortgage statements.
Loan by type and purpose.
Loan approved or rejected for a specified period.
Loan approved but not activated for specified period.
Loan details / overdue for specified period.
Loan offer but not accepted yet within a specified period from letter of offer.
All loans with no reply from borrower within a specified period.
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.: eRKTM-FINANCIAL
eRKTM-Financial consists of the following modules, please click on the product code for more information.
