# Abridged Loan
Abridged loan accounts enable you to process loans quickly and efficiently. This menu allows you to capture all the requirements to create a customer ID, create a repayment linked account and to create a loan account in a single flow. This menu is only applicable to new to the bank customers. This section will walk you through managing abridged loan accounts within the Udara360 CBA system.
## Accessing The Abridged Loan Page
1. Log into the application using your credentials.
2. From the dashboard, navigate to **Accounts** in the side menu.
3. Select **Customer Account** from the dropdown list.
4. Select **Abridged Loan** from the **Customer Account** dropdown list**.**
## Create An Abridged Loan
To create an abridged loan account for a user, perform the following steps:
**Step 1:** Input your **Personal Information**. The following information includes:
* **Title:** Select the appropriate title (e.g., Mr., Mrs., Ms.).
* **Last Name:** Enter the borrower's last name.
* **First Name:** Enter the borrower's first name.
* **Other Names:** If applicable, enter any additional names.
* **Bank Verification Number**: Enter the borrower's valid bank verification number.
* **Country**: Enter the country of residence.
* **State/Province**: Enter the state of residence.
* **Date of Birth:** Select the borrower's date of birth.
* **Gender:** Select the appropriate gender (e.g. Male, Female).
* **Marital Status:** Select the appropriate marital status.
* **Mean of Identification:** Select the borrower's means of identification.
* **Means of Identification Number:** Input the borrower's identification number.
* **Issue Date:** Select the issued date from the borrower's identification.
* **Expiry Date:** Select the expiry date on the borrower's Identification.
* **Place of Issue:** Input identification location.
* Click **Next** to go to the next step.
**Step 2:** Input your **Contact Details**. The following information includes:
* **Phone Number:** Input the borrower's phone number.
* **Email:** Input the borrower's valid email address.
* **LGA/Cities:** Input the borrower's local government area.
* **Address:** Input the borrower's residential address.
* Click **Next** to go to the next step.
**Step 3:** Input your **Next of Kin** information. The following information includes:
* Name: Input borrower's next of kin.
* Email: Input the next of kin's email address.
* Phone Number: Input the next of kin's phone number.
* Relationship: Select the borrower's relationship with the next of kin (e.g. guardian, sister, brother).
* Date of Birth: Select next of kin's date of birth.
* Gender: Select the next of kin's gender.
* Occupation: Input the next of kin's occupation.
* Address: Input the next of kin's residential address.
* Click **Next** to go to the next step.
**Step 4:** Input your borrower's **Employment Details**. The following information includes **Employee ID Type:** Select your employee ID type (e.g., Private Staff ID, Oracle Number).
* **Employee ID:** Inpur your employee identification number.
* **Net Income:** Indicate your monthly net income.
* **Employer Name:** Input the name of your employer.
* **Ministries, Depts and Agencies:** If applicable, select the relevant government ministry or department.
* **Pay Date:** Specify your regular payday.
* **State of Employment:** Select your state of employment.
* **Ministry/Local Govt Area:** Select the relevant ministry or local government area if applicable.
* **Employment Date:** Select the date you started working for your current employer.
* Bank Name: Select your bank name (e.g., access bank, wema, sterling).
* Bank Account Name: Input your account name.
* Bank Account Number: Input your account number.
* Click **Next** to go to the next step.
**Step 5:** Input your borrower's **Loan Service Details**. The following information includes:
* **Account Name:** Enter the name of the borrower's account.
* **Branch:** Select the branch where the account is located.
* **CASA Product Type:** Choose the CASA (Current, Savings) product the account is linked to.
* **Account Officer:** Select the account officer responsible for servicing the loan.
* Click **Next** to go to the next step.
**Step 6:** Input your borrower's **Loan Details**. The following information includes:
* **Loan Product Name:** Select the appropriate loan product from the dropdown list.
* **Lending Model:** Choose the lending model (e.g., interest-only, principal and interest).
* **Economic Sector:** Select the economic sector the borrower belongs to.
* **Loan Purpose:** Enter the purpose of the loan.
* **Loan Principal Amount:** Specify the total amount of the loan.
* **Select Applicable Interest:** Choose the applicable interest rate type (e.g., fixed, floating).
* **Applicable Interest Rate:** Enter the interest rate.
* **Override Product Interest Rate?:** Indicate if you want to override the default interest rate for the loan product.
* **Repayment Option: Select the repayment option (e.g., monthly or quarterly).**
* **Repayment Frequency:** Specify the frequency of repayments.
* **Number of Installments:** Enter the total number of instalments.
* **Tenure:** Set the loan tenure (duration).
* **Interest Computation Mode:** Choose the method for calculating interest (e.g., simple, compound). You can also click the **Compute Interest** button to assess one for you.
* **Apply Loan Fee**: Click the **Apply Load Fee** Toggle to activate/deactivate the loan fee.
* **Loan Start Date**: Select the loan start date.
* **Interest Accrual Start Date:** Choose when the added interest will begin accruing.
**Step 7:** Select your Document type and Click **Upload Documents** for additional documents.
**Step 8:** Click **Save.**
**Step 9:** Click the **"Yes, I want to proceed"** button to reconfirm action.
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