> 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/loan.md).

# Loan

The Loan Account page enables you to manage customer loans, including creating new loans, monitoring repayments, and updating loan details. This feature allows CBA operators to handle various loan types, track outstanding balances, and manage interest rates and repayment schedules.

You can perform the following operations on the Loan feature:

<table><thead><tr><th width="329.5">Action</th><th>Text</th></tr></thead><tbody><tr><td><strong>Create Loan</strong></td><td>This allows you to create a new loan.</td></tr><tr><td><strong>Modify Loan</strong></td><td>This allows you to edit or update the loan details, such as changing the loan amount, interest rate, tenure, or repayment schedule.</td></tr><tr><td><strong>View</strong></td><td>This action lets you view the loan details, including customer information, loan terms, and any associated documents, without making modifications.</td></tr><tr><td><strong>Repayment Schedule</strong></td><td>This action displays and lets you edit the loan's repayment schedule, detailing the amount, due dates, and instalment structure for paying back the loan.</td></tr><tr><td><strong>Repay Loan</strong></td><td>This enables you to record a loan repayment, either partially or fully, updating the outstanding balance and reflecting the transaction in the repayment history. Only available on Active loans.</td></tr><tr><td><strong>Restructure Loan</strong></td><td>This allows you to revise the terms of an existing loan — such as the repayment option, frequency, or applicable interest.</td></tr><tr><td><strong>Refinance Loan</strong></td><td>This allows you to issue additional funds against an existing loan and revise its repayment terms accordingly.</td></tr><tr><td><strong>Release Security Deposit</strong></td><td>If the loan is secured by a deposit, the security deposit can be released.</td></tr><tr><td><strong>Loan Agreement Letter</strong></td><td>This generates and downloads the loan agreement document/offer letter.</td></tr><tr><td><strong>Loan Agreement Letter V2</strong></td><td>This generates and downloads an alternative version of the loan agreement document.</td></tr></tbody></table>

> :pushpin:**Note:** Available actions depend on the loan's status; see the table under **Search For A Loan** below.

## Accessing The 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 **Loan** from the **Customer Account** dropdown list.

<figure><img src="/files/FJwXR1sdUHVlM5nrlWVg" alt=""><figcaption></figcaption></figure>

## Search For A Loan

To search for a loan, follow these steps:

1. Click on the **Filter** button at the top right of the page.
2. Input your search criteria. You can search by **Account Name, Customer ID, Reference Number, Account Officer, Loan Account Number, IPPIS/Oracle ID, Branch,** or **Loan Product, Loan Disbursed,** and **Status**.
3. Click **Apply** to view the loan details that match your search.

> :pushpin:**Note:** You can also use the **status dropdown** at the top of the list page (Active, Revoked, or Closed) to quickly filter the list without opening the full Filter panel. Use the **search account name** field for a fast lookup by name, and click **Reset Filter** to clear all applied filters.

<table><thead><tr><th width="326.5">Status</th><th>Available Actions</th></tr></thead><tbody><tr><td><strong>Active</strong></td><td>Modify, Repayment Schedule, Repay Loan, Restructure Loan, Refinance Loan, Release Security Deposit, Loan Agreement Letter, Loan Agreement Letter V2, View</td></tr><tr><td><strong>Revoked</strong></td><td>Modify, Repayment Schedule, Release Security Deposit, Loan Agreement Letter, Loan Agreement Letter V2, View</td></tr><tr><td><strong>Closed</strong></td><td>Modify, Repayment Schedule, Restructure Loan, Refinance Loan, Release Security Deposit, Loan Agreement Letter, Loan Agreement Letter V2, View</td></tr></tbody></table>

## Create A New Loan

To create a new loan, perform the following steps:

1. Click the **Add** button at the page's top left.
2. Input any of the following: **Customer ID, Customer's Name,** or **Email**.
3. Click on the **Search** button.
4. Select the desired customer from the search result.
5. Fill in your loan information across the following tabs:

{% hint style="success" %}
The loan status will be updated to **Active**, and the customer can begin repayments according to the schedule.
{% endhint %}

<figure><img src="/files/d92Q6xYrHQCyBHlLWdjp" alt=""><figcaption></figcaption></figure>

### Loan Service Details:

* **Customer Name:** Auto-populated from the customer selected.
* **Customer's Savings/Current Account:** Select the account the loan will be linked to.
* **Account Name:** Enter the name for the loan account.
* **Product Name:** Auto-populated based on the linked account.
* **Branch Name:** Enter or confirm the branch.
* **Loan Officer:** Select the loan officer responsible for the account.
* **Account Status:** Auto-populated (e.g. Active).
* **Any Loan Outstanding?:** Auto-populated based on the customer's record.
* **Reference Number:** Enter a reference number for the loan.
* **IPPIS/Oracle ID:** Enter the IPPIS or Oracle ID, if applicable.
* Click **View Signatory Mandate** to review the account's signatory mandate.
* Click **Remita Lookup Search** if you need to verify the customer via Remita.
* Click **Next** to go to the next step.

### Loan Account Info:

* **Customer Name:** Auto-populated.
* **Loan Product:** Select the loan product.
* **Lending Model:** Select the lending model (e.g. Individuals).
* **Economic Sector:** Select the relevant economic sector.
* **Currency:** Auto-populated (e.g. NGN).
* **Failed Repayment Grace Period:** Enter the grace period, in days, for a failed repayment.
* **Loan Principal Amount:** Enter the loan's principal amount.
* **Loan Start Date:** Select the loan's start date.
* **Interest Accrual Start Date:** Select when interest begins accruing.
* **Loan First Repayment Date:** Select the date of the first repayment.
* Click **Next** to go to the next step.

### Repayment Info:

*Principal Repayment Information:*

* **Principal Repayment:** Select the repayment method (e.g. Pro-Rated).
* **Principal To Be Repaid Every** and **Principal Repayment Frequency** (e.g. Monthly).
* **Over How Many Instalments?**
* **Tenure:** Enter the loan tenure.

*Interest Repayment Information:*

* **Applicable Interest:** Select the applicable interest option.
* **Override Product Interest Rate?:** Toggle on to override the product's default interest rate.
* **Applicable Interest Rate.**
* **Defaulting Loan Interest Rate:** Enter the default interest rate applied on missed repayments.
* **Interest Computation Mode** (e.g. Fixed Method).
* **Interest Repayment:** Select the repayment method (e.g. Pro-Rated).
* **Interest To Be Repaid Every** and **Interest Repayment Frequency** (e.g. Monthly).
* **Over How Many Instalments?**

*Loan Fee Information:*

* **Apply Loan Fee:** Toggle on to apply a loan fee.
* **Loan Fee:** Select the applicable fee.

*Loan Moratorium:*

* **Ignore Product Default:** Toggle on to override the loan product's default moratorium setting.
* **Allow Moratorium On Loan Repayment:** Select whether a moratorium applies.

> :pushpin:**Note:** Click **Compute Interest** to calculate the interest, or **View Repayment Schedule** to preview the schedule.

* Click **Next** to go to the next step.

### Collateral & Security:

* **Required Security Deposit Amount:** Enter the required deposit amount, if any.
* **Collateral Pledge:** Toggle on if the loan is secured by collateral, then enter the **Type of Collateral, Collateral Valuation,** and **Detailed Description** (up to 150 characters).
* **Allow Disbursements To GL:** Toggle on to allow disbursement to a General Ledger account.
* **Enable Repayment Tracker:** Toggle on to track repayments, then enter the **Repayment Tracker in Days**.
* Click **Next** to go to the next step.

### Guarantor Info:

* Click **Add Guarantors**.
* In the **Search Guarantor** panel, enter the **Customer ID, Customer's Name,** or **Customer's Email**, then click **Search**.
* Select the guarantor from the **Customer Account Details** results.
* The guarantor's name and phone number populate as **Guarantor 1** and **Guarantor 1 Phone Number**.
* Click **Add Guarantors** again to add further guarantors, if needed.
* Click **Next** to go to the next step.

### Other Documents:

* Select the **Document Type**.
* Click **+ Add New Document** and upload the file.
* Click **Submit**.
* Confirm the action by clicking **"Yes, I want to proceed."**

<figure><img src="/files/q6CV4DtAl4XjKXXWlWsy" alt=""><figcaption></figcaption></figure>

## Modify An Existing Loan

1. In the **Actions** column, click the **three vertical dots (⋮)** next to the loan you wish to edit.
2. Select **Modify** from the dropdown menu.
3. Update the loan details across the **Loan Service Details, Loan Account Info, Repayment Info, Collateral & Security, Guarantor Info,** and **Other Documents** tabs (same fields as **Create A New Loan** above, except the **Remita Lookup Search** button on Loan Service Details, which only appears on the Create flow).
4. Click **Submit**.
5. Confirm by selecting **"Yes, I want to proceed."**

## View

1. In the **Actions** column, click the **three vertical dots (⋮)** next to the loan you wish to view.
2. Select **View** from the dropdown menu.
3. The same tabs as the Modify screen are displayed in read-only form.

## View & Edit Repayment Schedule

1. In the **Actions** column, click the **three vertical dots (⋮)** next to the loan you wish to view.
2. Select **Repayment Schedule** from the dropdown menu.
3. The table displays each instalment's repayment date, principal, interest, loan fee, total repayment, and payment status.
4. To download, click **Export** and select **Excel, PDF,** or **Print**.
5. To edit, click **Edit Repayment Schedule**, then:
   * Click **+ Add** to add a new row, or adjust an existing row's **Repayment Date, Principal, Interest, Loan Fee,** or **Total Repayment**.
   * Click **Save Changes**.
   * Confirm by clicking **"Yes, I want to proceed."**

<figure><img src="/files/Z2E5RvCTpGh2OkLNiJyH" alt=""><figcaption></figcaption></figure>

## Repay Loan

1. In the **Actions** column, click the **three vertical dots (⋮)** next to the loan you wish to repay.
2. Select **Repay Loan** from the dropdown menu.
3. On **Repayment Details**: select a **Payment Option** (**Full Repayment** or **Part Repayment**), select the instalment(s)/component(s) to repay (**Principal, Interest, Loan Fee**) via the checkboxes, and review the **Not Yet Due** summary fields. Enter the **Actual Principal/Interest/Fees To Be Paid** and any **Other Charges To Be Paid**, then review the **Total Amount To Be Repaid**.
4. Check **Loan Account Details** for the account's disbursed amount, tenure, running period, and outstanding balances.
5. Check **Loan Servicing Account** for the linked account's balance and status.
6. Click **Repay Loan**.
7. Confirm by clicking **"Yes, I want to proceed."**

<figure><img src="/files/5AWmkIqe5aKLAPb6cJHq" alt=""><figcaption></figcaption></figure>

## Restructure Loan

1. In the **Actions** column, click the **three vertical dots (⋮)** next to the loan you wish to restructure.
2. Select **Restructure Loan** from the dropdown menu.
3. On **Repayment Information Details**, enter the **Restructure Amount**, principal repayment terms (**Option, Repaid Every, Frequency, Instalments**), interest repayment terms (**Option, Repaid Every, Frequency, Instalments**), **Applicable Interest, Applicable Interest Rate, Interest Computation Mode, Penal Interest Rate, Restructure Commence Date, Restructure Date,** and **Loan First Repayment Date**.
4. Use **Recompute Interest, View Original Loan Schedule, View New Schedule After Restructuring,** or **Remita Lookup Search** as needed.
5. Check **Loan Account Details** and **Loan Servicing Account** for the account's current standing.
6. Click **Restructure Loan**.
7. Confirm the action by clicking **"Yes, I want to proceed."**

<figure><img src="/files/F3E3SQqpUkclP8Flyv4M" alt=""><figcaption></figcaption></figure>

## Refinance Loan

1. In the **Actions** column, click the **three vertical dots (⋮)** next to the loan you wish to refinance.
2. Select **Refinance Loan** from the dropdown menu.
3. On **Repayment Information Details**, enter **Refinance By How Much?**, principal repayment terms, interest repayment terms, **Applicable Interest, Applicable Interest Rate, Interest Computation Mode, Defaulting Loan Interest Rate, Refinance Commence Date, Refinance Date, Loan First Repayment Date**, and under **Loan Fee Information**, toggle **Apply Loan Fee** and select the **Loan Fee** if applicable.
4. Use **Recompute Interest, View Original Loan Schedule, View New Schedule After Refinancing,** or **Remita Lookup Search** as needed.
5. Check **Loan Account Details** and **Loan Servicing Account** for the account's current standing.
6. Click **Refinance Loan**.
7. Confirm the action by clicking **"Yes, I want to proceed."**

## Release Security Deposit

1. In the **Actions** column, click the **three vertical dots (⋮)** next to the loan you wish to release.
2. Select **Release Security Deposit** from the dropdown menu.
3. Confirm by clicking **"Yes, I want to proceed."**

## Download The Loan Agreement Letter

1. In the **Actions** column, click the **three vertical dots (⋮)** next to the loan you wish to download.
2. Select **Loan Agreement Letter** or **Loan Agreement Letter V2** from the dropdown menu.
3. A confirmation message displays once the request is successful.