Core banking software for shortterm loan management or Payday loan management software for
Urban Co-operative bank, Service Co-operative bank and Credit union
A payday loan is a fund provided to meet the short-term fund requirement or to meet emergency
/unplanned expenses. Instantaneous loan applications processing and Disbursals, easy loan
collections.
- Can define various types of loans and its attributes.
- Interest revisions for each type of loan that can be applied only to new loans or all
existing loans.
- Application processing.
- Rules-based auto calculation of interest rate, finance charges, eligible amount, late
payment charges etc.
- Eligible amount calculation (based on shares held, salary, liability & arrears)
- User definable asset grading & NPA report.
- Interest amount calculation from the given date and reverse calculation of
interest-applied date from the given received amount. The interest calculation take
cares all the interest revisions.
- Transaction history will be shown in tabular format on ledger entry screen.
- Net liability/arrears of the loanee and the liability report is available in the ledger
as well as application.
- Notice generation.
- Various types of arrear/ balance statements.
