Repayment Method

Setting up Repayment methods

Welcome to the Repayment Method Setup section of the User Guide.

In this section, we aim to discuss how to setup up and use the various Repayment methods facilitated by Mobiloan.

Watch the training video below for a complete demonstration of the same.

General Configuration

The process of setting up Repayment Methods conforms with the method in which other general configurations are done in Mobiloan.

As a reference on how to use the screen layout to add and edit Loan Products, refer to the General Configurations section.

How to setup a Repayment Method.

Early Debit Orders

An Early Debit Order (EDO) is an early window collection instruction that is first presented for collection on the debtor’s bank account immediately after the banks’ salary credit run. An early window collection precedes a standard EFT collection and has first ‘chance’ at the debtor’s available balance.

Early window collections also include a tracking option whereby the collection instruction monitors the debtor’s bank account for a credit that is equal to or more than the amount to be collected and will immediately reserve the funds for fulfilment of the debit order.

AEDO – Authenticated Early Debit Order (Debtor is present and authenticates his banking details with his bank card and PIN)

NAEDO – Non-authenticated Early Debit Order (Debtor may or may not be present and authentication by card is not done)