Create Loan Account

Send a POST request to the endpoint mentioned above to create a new loan account. The request should include the required payloads in the request body, such as customerID, linkedNumber, lendingModel, and other necessary information.

POST /api/loanaccount/v1/add A successful request will return the loan accountNumber, id and a success message in the response, allowing for reference to the newly created loan account. This process allows for creating customer loan accounts and simplifies the management of loan-related information.

Headers

Name	Value
Content-Type*	application/json
Authorization*	Bearer <token>
Request-Reference	{unique-reference}

Body

Name	Data Type (length)	Required	Description
customerID	string		The unique identifier of the customer applying for the loan The CustomerID must be the same as the CustomerID linked to the beneficiary
linkedNumber	string		The number linked to the loan account (NUBAN) for disbursement
productCode	string		The code of the loan product being applied for The loan products should be created on the Udara360 portal and they must be active.
lendingModel	integer		The model used for lending The enumerations are: 1 = CreditUnion 2 = Individual 3 = Individuals 4 = NeighbourhoodAndSmallGroupRevolvingFunds 5 = Other 6 = SolidarityGroups 7 = Staff, 8 = VillageBanking 9 = WholesaleLending
economicSector	integer		The code representing the economic sector The enumerations are: 40100 = Agriculture, Forestry, and Fishing 40200 = Mining and Quarrying 40300 = Manufacturing 40500 = Real Estate Activities 40700 = General Commerce 40800 = Transportation and Storage 40900 = Finance and Insurance 41000 = General 41200 = Governments 41300 = Water Supply, Sewage, Waste Management, and Remediation Activities 41400 = Construction 41500 = Information and Communication 41600 = Professional, Scientific, and Technical Activities 41700 = Administrative and Support Service Activities 41800 = Education 41900 = Human Health and Social Work Activities 42000 = Arts, Entertainment, and Recreation 42100 = Activities of Extra-Territorial Organizations and Bodies 42200 = Power and Energy 42300 = Capital Market 42400 = Oil and Gas
loanAmount	integer		The amount of the loan being applied for The amount should be supplied in the base currency amount. For example, 1000.55 should be sent as 100055.
startDate	dateTime		The start date of the loan
tenure	integer		The tenure of the loan in months
guarantorID1	string		The ID of the first guarantor
guarantorID2	string		The ID of the second guarantor
penaltyGracePeriod	integer		The grace period before a penalty is applied in days
hasCollateralPledge	boolean		Indicates if there is a collateral pledge, set true for yes an false for no
collateralType	integer		The type of collateral provided The enumerations are: 1 = RealEstateLandAndBuilding 2 = Automobile 3 = PlantAndEquipment 4 = NaturalReserves 5 = MarketableSecurities 6 = AccountsReceivablesAndInventory 7 = Cash 8 = PersonalGuarantees 9 = PostDatedCheques 10 = Dormicilliation 11 = HouseholdItems
collateralValuation	integer		The valuation of the collateral
collateralDescription	string		A description of the collateral provided
principalRepaymentType	integer		The type of principal repayment The enumerations are: 1 = EndOfContract 2 = Prorated 3 = Upfront
principalFrequency	integer		The frequency of principal repayment 1 = Daily 2 = Weekly 3 = Fortnight 4 = Monthly 5 = Quarterly 6 = HalfYearly 7 = Annually 8 = EndOfContract 9 = Upfront
principalToBeRepaidEvery	integer		How frequently the principal should be repaid if it's not at the EndOfContract or Upfront
principalInstallment	integer		The amount of each principal instalment, this parameter can also be used to compute the tenure
useProductInterestRate	boolean		Indicates whether the product's interest rate should be used, set true for yes and false for no
defaultingInterestRate	integer		The interest rate that is applied when the loan defaults
interestRepaymentType	integer		The type of interest repayment The enumerations are: 1 = EndOfContract 2 = Prorated 3 = Upfront
interestFrequency	integer		The frequency of interest repayment The enumerations are: 1 = Daily 2 = Weekly 3 = Fortnight 4 = Monthly 5 = Quarterly 6 = HalfYearly 7 = Annually 8 = EndOfContract 9 = Upfront
interestToBeRepaidEvery	integer		How often the interest is to be repaid
interestInstallment	integer		The total number of instalments
interestAccrualMode	integer		The mode by which interest accrues The enumerations are: 1 = Fixed 2 = ReducingBalance 3 = ReducingBalanceButEqual
interestFreePrincipalAmount	integer		The amount of the principal that is interest-free
securityDeposit	integer		The amount of the security deposit taken The system will place a lien on the account and automatically release it when the loan expires or is closed.
holdFundSecurityDeposit	boolean		Indicates whether the fund security deposit is held, set true for yes and false for no
applyLoanFees	boolean		Indicates whether loan fees should be applied, set true for yes and false for no
loanFees	array		An array of objects representing the fees associated with the loan
loanFees.loanFeeCode	string		The loan fee code
loanFees.name	string		The loan code name
allowMoratorium	integer		Indicates whether a moratorium is allowed The enumrations are (nullable): 1 = False 2 = PrincipalOnly 3 = InterestOnly 4 = PrincipalAndInterest
moratoriumDuration	integer		The duration of the moratorium 1 = IncreaseTotalLoanDuration 2 = DonNotIncreaseTotalLoanDuration
moratoriumFrequency	integer		The frequency of the moratorium The enumerations are: 1 = Daily 2 = Weekly 3 = Monthly 4 = Annually
moratoriumEffect	integer		The effect of the moratorium The enumerations are: 1 = IncreaseTotalLoanDuration 2 = DonNotIncreaseTotalLoanDuration
enableRepaymentTracker	boolean		Indicates whether the repayment tracker is enabled set true for yes and false for no
repaymentTrackerInDays	integer		The number of days for the repayment tracker

Here is an example request and response with a sample payload sent to the endpoint in Curl format.

Sample Request

curl --location -g '{{baseurl}}/api/loanaccount/v1/add' \
--header 'Authorization: bearer {token}' \
--header 'request-reference: {unique_reference}' \
--header 'Content-Type: application/json' \
--data '{
  "customerID": "string",
  "linkedNumber": "string",
  "productCode": "305",
  "lendingModel": 1,
  "economicSector": 42400,
  "guarantorID1": "",
  "guarantorID2": "",
  "penaltyGracePeriod": 0,
  "loanAmount": 100000,
  "hasCollateralPledge": true,
  "collateralType": 2,
  "collateralValuation": 100000,
  "collateralDescription": "Toyota Camry 2008",
  "startDate": "2021-06-28",
  "tenure": 60,
  "principalRepaymentType": 2,
  "principalFrequency": 4,
  "principalToBeRepaidEvery": 1,
  "principalInstallment": 2,
  "useProductInterestRate": true,
  "defaultingInterestRate": 0,
  "interestRepaymentType": 2,
  "interestFrequency": 4,
  "interestToBeRepaidEvery": 1,
  "interestInstallment": 2,
  "interestAccrualMode": 1,
  "interestFreePrincipalAmount": 0,
  "securityDeposit": 0,
  "holdFundSecurityDeposit": false,
  "applyLoanFees": false,
  "loanFees": [
    {
      "loanFeeCode": "",
      "name": ""
    }
  ],
  "allowMoratorium": null,
  "moratoriumDuration": 0,
  "moratoriumFrequency": null,
  "moratoriumEffect": null,
  "enableRepaymentTracker": false,
  "repaymentTrackerInDays": 0
}'

Respose: 200

{
  "status": true,
  "message": "string",
  "data": {
    "id": "3fa85f64-5717-4562-b3fc-2c963f66afa6",
    "accountNumber": "1000003305000021282"
  }
}