Short term loan software

Core banking software for shortterm loan management or Payday loan management software for Urban Co-operative bank, Service Co-operative bank and Credit union

A payday loan is a fund provided to meet the short-term fund requirement or to meet emergency /unplanned expenses. Instantaneous loan applications processing and Disbursals, easy loan collections.

  • Can define various types of loans and its attributes.
  • Interest revisions for each type of loan that can be applied only to new loans or all existing loans.
  • Application processing.
  • Rules-based auto calculation of interest rate, finance charges, eligible amount, late payment charges etc.
  • Eligible amount calculation (based on shares held, salary, liability & arrears)
  • User definable asset grading & NPA report.
  • Interest amount calculation from the given date and reverse calculation of interest-applied date from the given received amount. The interest calculation take cares all the interest revisions.
  • Transaction history will be shown in tabular format on ledger entry screen.
  • Net liability/arrears of the loanee and the liability report is available in the ledger as well as application.
  • Notice generation.
  • Various types of arrear/ balance statements.