Loan Application by Member - How To
Step How to Is Required?
1 Select currency of loan, loan type, and applicant in succession. Yes
System displays interest and insurance rates of loan type
System also shows if there is any remaining balance of an existing loan.
User fills requested loan amount; this amount should include the previous loan balance.
User then fills either two of the three parameters; principal, months of repayment or monthly repayment amount and clicks 'Calculate'
System calculate and fills the one missing parameter not supplied by user.
The rest of the screen shows:
Account Balances - loan and saving account balances are shown
Member Obligations - Regular monthly saving amounts and existing loans monthly repayments
Membership date and member type
2 User reviews the loan parameters: principal, monthly repayment and number of months of repayment
User checks the document types required checkboxes
3 User clicks 'Finish' to save the application.