> For the complete documentation index, see [llms.txt](https://docs.udara360.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.udara360.io/core-features/account/customer-account/abridged-loan.md).

# Abridged Loan

Abridged loan accounts enable you to process loans quickly and efficiently within a single workflow. This feature allows you to capture a borrower's personal, contact, and financial details, create a linked repayment account, and open a loan account in one continuous flow, without needing to onboard the customer separately beforehand. This section walks you through accessing the Abridged Loan page and creating an abridged loan account 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**.**

<figure><img src="/files/r6oWwlPrssh3orYvT8im" alt=""><figcaption></figcaption></figure>

## Create An Abridged Loan

To create an abridged loan account for a user, perform the following steps:

**Step 1:** Input your borrower's **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.
* **Means 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.

<figure><img src="/files/KFrJOxCD8fh0arEZgVc0" alt=""><figcaption></figcaption></figure>

**Step 2:** Input your borrower's **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.

<figure><img src="/files/zIm07P9MaIEya6QmGr1R" alt=""><figcaption></figcaption></figure>

**Step 3:** Input your borrower's **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.

<figure><img src="/files/NbgpVOjB1HdEZTN4BYn4" alt=""><figcaption></figcaption></figure>

**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:** Input 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.

<figure><img src="/files/OdXH2SnL2nnjgtXOoLl9" alt=""><figcaption></figcaption></figure>

**Step 5:** Input your borrower's **Loan Servicing 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.
* **Account Tier Level:** Select the tier level applicable to the borrower's account.
* Click **Next** to go to the next step.

<figure><img src="/files/mt1LqXRGKN7oUjfJHHsC" alt=""><figcaption></figcaption></figure>

**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).
* **Override Product Interest Rate?:** Indicate if you want to override the default interest rate for the loan product.
* **Applicable Interest Rate:** Enter the interest rate.
* **Repayment Option:** Select the repayment option (e.g. monthly or quarterly).
* **Repayment Frequency:** Specify the frequency of repayments.
* **Number of Instalments:** 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 Loan 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.
* **Ignore Product Default:** Toggle this on if you want to override the loan product's default moratorium setting.
* **Allow Moratorium On Loan Repayment:** Select whether a moratorium (repayment holiday) applies to the loan, and specify its terms if applicable.
* Click **Next** to go to the next step.

<figure><img src="/files/TnOVGuSFJBQPX8qatMlp" alt=""><figcaption></figcaption></figure>

**Step 7:** Select your **Document Type** and click **+ Add New Document** to upload supporting documents.

<figure><img src="/files/Gw9eAT7Zw1cQuzyQWrO7" alt=""><figcaption></figcaption></figure>

**Step 8:** Click **Save**.

**Step 9:** Click **"Yes, I want to proceed"** on the confirmation prompt to complete account creation.