5. Discounts

Applying a discount rule enables the loan product to allow for a discount on the total cost of credit for clients associated with a particular employer.

What this means is during loan origination, if the given loan product is selected AND there is 1 or more discount rules available AND the client's employer (and other criteria discussed below)qualifies the client for a corresponding discount percentage off his/her cost of credit!

This can be accomplished by assigning a discount rule in the Discount Rule Table

The table of all discount rules.

Defining a new discount Rule

A discount rule is represented as a singular row within the discount rule table, and it necessitates the fulfillment of certain criteria in order to be defined as a distinct discount rule.

1. An Employer: Select from a list of Employers to which this discount rule applies for. You may be required to create a new Employer.

2. Loan Type: Select the appropriate loan type(First, Dormant, Repeat and Top up) for which the current rule is applicable to.

3. Instalment Frequency: Options include Monthly, Weekly, Fortnightly or All.

4. The percentage value of the discount. Example 15%

To get started, simply select the drop- down arrow apparent on the right hand corner and select the insert new row option.

Once you have created a new Row, simply select the corresponding drop-down arrows present in each column to select an appropriate option.

Selecting an Employer for the current discount rule.

Adding / Removing Existing Discount Rules

In order to access the list of options that allow you to manage current discount rules, select the "" symbol located at the end of the corresponding row in the discount's table, as seen in the screenshot below.

A discount table with 1 configured discount rule (row).

The user will then be presented with the following options:

Other options available per row

That is all the information you will be required to know when creating a new Loan Product.