Overdraft Fee
Last updated
Udara360 User Guide
Last updated
The Overdraft Fee page enables you to manage fees for overdraft facilities on customer accounts, including creating, modifying, and tracking fees to ensure accurate reflection in customer accounts.
Log into the application using your credentials.
From the dashboard, navigate to Accounts in the side menu.
Select Fees from the dropdown list.
Select Overdraft Fee from the Fees dropdown list.
To create a new Overdraft fee:
Click on the “Add” button at the top of the page.
Fill in the Create New Overdraft Fee form fields:
Fee Name: Enter a descriptive name for the fee.
Fee Computational Model: Select the model or method for calculating the fee. Common computational models include:
Flat: A fixed amount charged irrespective of the loan amount.
Percentage: A percentage-based fee calculated on the loan principal or outstanding balance.
Amount: Enter the actual desired overdraft fee amount.
Fee Charge Cycle: Define how often the fee should be applied. Examples include:
Daily: Charged daily.
One-off: Charged only once.
Monthly: Charged on a recurring monthly basis.
Apply VAT?: Toggle this option to decide if VAT should be applied to the fee or not.
Once you’ve filled in all the necessary fields, click “Save” to apply the new overdraft fee.
Confirm the action by selecting “Yes, I want to proceed.”
To view an existing Overdraft fee:
In the Actions column, click the three vertical dots (⋮) next to the Overdraft fee you want to view.
Select View from the dropdown menu.
This will display the full details of the created Overdraft Fee.
To modify an existing CAM Fee:
In the Actions column, click the three vertical dots (⋮) next to the CAM fee you wish to modify.
Select Modify from the dropdown menu.
Update the necessary overdraft Fee details.
Click Update to save and apply the changes.
Confirm the action by selecting “Yes, I want to proceed.”
To activate/deactivate an existing CAM fee:
In the Actions column, click the three vertical dots (⋮) next to the CAM fee you wish to deactivate.
Select Deactivate from the dropdown menu.
Confirm the action by selecting “Yes, I want to proceed.”
