Repay Loan

To repay a loan, send a POST request to the endpoint:

POST /api/loanaccount/v1/repayloan

The request body requires the loanAccountNumber, instrumentNumber, and amount, along with the relevant GL accounts; collectionsGL is always required, and feeIncomeGL becomes required if there's a fee on the GL.

A successful request will return a status and message confirming the repayment, along with a data object containing the transaction's statusCode, referenceNumber, instrumentNumber, and duration.

This process allows customers to make repayments towards an existing loan, and supports optional early termination of the loan as part of the same request.

Headers

Name	Value
Content-Type*	application/json
Authorization*	Bearer
Request-Reference*	{unique_reference}

Body

Name	Data Type (Length)	Required	Description
loanAccountNumber	string (50)		The loan account number.
instrumentNumber	string (50)		A unique instrument number for this repayment.
amount	number		The amount to be paid into the linked account for loan deductions. Amount should be sent in the base unit of the currency. For example, 500 naira should be sent as 50,000 kobo.
collectionsGL	string (10)		A General Ledger Account created on the CBA portal. This GL will typically be a Bank GL. For Production, the GL should be requested from the Bank.
feeIncomeGL	string (10)		A General Ledger Account created on the CBA portal. This GL will typically be an Income GL. For Production, the GL should be requested from the Bank. This property only becomes required if there is a fee on the GL.
earlyTermination	boolean		Set to true if the loan should be terminated as part of this repayment. False by default. For this to succeed, the Amount must be able to pay off all outstanding debts, upcoming principal, and fees.

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/repayloan' \
--header 'Authorization: bearer {token}' \
--header 'request-reference: {unique_reference}' \
--header 'Content-Type: application/json' \
--data '{
  "loanAccountNumber": "1000003305000074660",
  "instrumentNumber": "",
  "amount": 80000,
  "collectionsGL": "10204005",
  "feeIncomeGL": "40101022",
  "earlyTermination": false
}'

Response: 200

{
  "status": true,
  "message": "string",
  "data": {
    "statusCode": "string",
    "referenceNumber": "string",
    "instrumentNumber": "string",
    "duration": "string"
  }
}