The Loan Repayment entry is utilized to monitor repayments made towards loans.

To access the Loan Disbursement list, go to:

> Home > Loan Management > Disbursement and Repayment > Loan Repayment

1. Prerequisites

Before creating a Loan Disbursement, you must create the following first:

• Loan
• Loan Interest Accrual

2. How to Create a Loan Repayment

1. Navigate to the Loan Repayment List and click on “New.”
2. Choose the loan for which repayment is being made.
3. The Applicant Type and Applicant will be retrieved from the Loan.
4. Select the Payment Type.
5. The default option is ‘Regular Repayment‘ for normal monthly payments, and ‘Loan Closure’ for final repayments or when closing the Loan.
6. Enter the Posting Date.
7. Upon entering the Posting Date, all payable amounts such as pending principal, interest, penalties, and the total payable amount will be automatically populated.
8. Click “Save” to save the draft of the Loan Repayment Entry.
9. Click “Submit” to officially submit the Loan Repayment Entry.

2.1. Other ways to create a Loan Repayment

You can also create a Loan Repayment from a disbursed Loan via the Create button on the top right of a Loan.