Loans and deposits
This module is a robust and flexible processing engine for all sorts of loans and deposits. Its functionality includes:
- Defining various types of loan and deposit products with different interest rates, commissions, eligibility conditions etc.
- Calculating interests, fines and commissions;
- Generating and keeping track of payment schedules;
- Handling overdue situations;
- Handling provisions for losses according to Russian regulations;
- Opening all necessary accounts according to Russian regulations;
- Generating and posting all necessary accounting entries;
- Maintaining collateral information and other functions.
The following large classes of loans are supported:
- Consumer loans with equal payments (including mortgage loans);
- Commercial loans;
- Credit lines;
- Overdrafts.
Most common types of retail and commercial loans can be built upon one of these templates with parameterization or minor custom development.
The module also supports fixed-term deposits by legal entities; personal deposits are covered by Personal deposits module.