Ideas for the Mambu Banking Engine

Dynamic Loans: ability to choose prepayment recalculation at repayment time

What: A possibility to choose between the below 2 pre-payment recalculation options (available with the "Pre-Payment Allocation” = “On Upcoming Pending Installment Only”) at the moment of posting a repayment that is a pre-repayment:
a) Reduce Amount per Installment
b) Reduce Number of Installments

Why: Many organisations allow their customers to choose, when they make an early repayment, how it should affect their future payments on a loan account (especially in case a substantial early payment is made). This flexibility not only allows to gain commercial advantage over competitors, but may also result from legal requirements in a given country.

  • Dorota Nosal
  • Mar 19 2018
  • Planned
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