Microfinance Software for NBFC

Microfinance

iCrats’s iBanking Microfinance Software is architected to work seamlessly with Micro-Finance Institutions of all sizes. It is a reliable loan management solution, with configurable loan types, loans for groups and individuals, multiple repayment modes, configurable interest and charges, configurable fee, support for a moratorium, configurable workflows, collateral management, alerts, and notifications, etc. The platform offers flexibility in grouping and categorization of members at various levels - Organization, Center and Group. Microfinance Software will ensure that all the client information has been captured accurately.

  • Loans for individuals, groups and SMEs with comprehensive user management, group management, institution management features.
  • Onboard individual members create groups and assign Group Leaders all on a Mobile.
  • Maker-Checker concept, Loan Lifecycle including holiday period, moratorium period etc.
  • Multiple interest computation mechanisms with weekly/monthly/yearly frequency.
  • Loans for individuals, groups and SMEs with comprehensive user management, group management, institution management features.
  • Interest revisions for each type of loan that can be applied only to new loans or all existing loans. The interest calculation take cares all the interest revisions
  • Application processing.
  • Recommended amount & installments calculation based on user definable parameters. ie, Shares held, salary, liability, arrears, retirement period, property value, share held by surety, salary of the surety, retirement period of the surety etc.
  • Interest amount calculation from the given date and reverse calculation of interest-applied date from the given amount.
  • Transaction history on the ledger entry screen in tabular format.
  • Supports multi-part payments.
  • Rebate calculation.
  • Net liability of the loanee and sureties.
  • Notice generation.
  • Various types of arrear/ balance statements.