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Additional Fields for Installment Loans

A loan product of this type can be used to cover a situation, such as construction, where the borrower makes progressive payments until the total approved principal amount for the loan account is reached. In the example table below, up to 5 disbursements can be made for an outstanding balance of 1,000 (in the loan currency). When opening a loan account, the actual number of disbursements and its maximum outstanding balance (up to a maximum of 1,000) will be set.

Field NameDescriptionExampleValidations (if applicable)
Maximum Number of InstallmentsThe maximum number of disbursements allowed for a loan account.5Numeric field
Maximum Allowed Outstanding BalanceThe maximum allowed outstanding balance for the loan account at any given time.1000Numeric field (assumes the loan product’s currency applies)

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