Step 8 - Transaction
Last updated
Last updated
In this step, the user will configure the category's New Loan Restrictions as well Origination Preferences and Debit Order Splitting.
Before creating a new loan, Mobiloan will check the New Loan Restriction for the given client category before allowing the user to proceed.
Lets take a look at the New Loan restrictions:
Daily Loan Limit: The user must set how many loans a client will be allowed to take within the same day.
Maximum Outstanding Instalments: A client with a number of outstanding instalments greater than the value set here; will not be able to take out a new loan.
Maximum Outstanding Loan Balance: A client with an outstanding loan balance greater than the value set here; will not be able to take out a new loan.
There is also a setting to decide whether a detailed reason for needing a loan is required. The checkboxes will indicate for which loan frequency will the above be applied to.
The first setting here allows the user to set the frequency of the requirement of an AVS-R check. Basically, if the user wishes to prevent fraud due to fake bank account etc, the user can set a requirement rule for a client to verify their account:
Once per bank account.
Once per bank account and dormant loan.
Upon every loan; or
None.
The second origination preference setting is to allow for debit order splitting!
This feature allows the final amount repayable to be split into two promissory' s / contracts while maintaining the original loan agreement.
The splitting will automatically occur based on whether the instalment of the initial promissory exceeds a given percentage of the client's bank income.
Simply select the dropdown and chose from a range of 20% - 90% of the client's bank income, to enable Mobiloan to automatically split the debit order mandate into two separate mandates.
The user may also set this function to optional or No Splitting
This setting only pertains to client types which are grant recipients and have SASSA as their fixed employer.
As mentioned previously, the SASSA dates are subject to change and thus it is only good practise to set a default tracking rule in order to ensure that collection is done or at least follwed up.
By selecting the dropdown, the user may set SASSA tracking rules to either:
| Rule Name | Description |
|---|---|
First to Last Payout Day | Tracks debits from the first payout day to the last payout day in the period. This is the default earliest payout day. |
Non-disputable with Full Period Tracking | Tracks debits for the full period, regardless of whether or not the grant recipient has received any payouts. |
Non-disputable with Shortened Tracking | Tracks debits for a shortened period, typically starting from the first payout day and ending on the date the grant recipient's grant is due to expire. |
Grant Category Payout Day Only | Tracks debits only on the grant recipient's grant category payout day. |
