Product Management
Customisation and Setup
The flexibility of the product setup in RUN-A-LOAN will allow you quick routes to market with new products and offerings.
Availability
You can set the start and end date controlling when the product is available for users to select.
Loan Term
You can set the default, minimum and maximum number of repayments.
Loan Amount
You can set the default, minimum and maximum loan amounts.
Interest Rates
You are also able to set the minimum and maximum annual interest rate.
Repayment Frequency
You can set the frequency of repayments e.g. daily, weekly, bi-weekly, monthly, quarterly, bi-annually or annually etc
Interest Calculations
You can set the days in month for interest calculations (i.e. 30 days or actual) as well as the days in year (i.e. 360, 364, 365 or actual)
Standard Loan Charges
These include financed, monthly and once off charges, where you can set the calculation formula and various thresholds.
Charge Flexibility
Most charges can have an attached term (seperate from the loan term). They can also be calculated or fixed charges.