Ideas for the Mambu Banking Engine

Redraw Facility for Revolving Credit

What?

Customers can "redraw" any principal that they have repaid in excess of the scheduled balance (see LNN-I-3).

A redraw facility is only available for loans in a variable interest rate period.

Why?

It allows borrowers to repay as much as they can in order to save interest, whilst still having access to the amounts prepaid in times of need.


Previous tickets that referred to Redraw:

  • Sascha Dannroth
  • Nov 2 2018
  • Will not implement
  • Attach files