Payday loan management software or software for shortterm loan management for NBFC
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.