How to Apply Moratorium in Finflux (Part 3 of 3)

by | Mar 22, 2021

The following blog will preview how easy it is to apply Moratorium to your loan products using Finflux user interface.  

Applicable Loan Products:

  • Declining balance
  • Declining balance with Interest Recalculation

Steps to Navigate and apply the Moratorium:

  1. Login to the web.
  2. Select a client with an active loan.
  3. Open the loan account.
  4. Select a Repayment date to give the moratorium period.
  5. Select Reschedule from the loan Options.
  6. In the reschedule page Give the Reschedule date, submission date and select the type of Moratorium by selecting Introduce Mid-term grace periods.
  7. After giving the data submit it.
  8. After submitting the Preview page will come where we can check the Updated repayment schedule after the moratorium.
  9. Approve it.

Expected Result:

  • A new repayment Schedule should be generated with the given Moratorium period.

Impact areas to be tested:

  1. Loan Repayment schedule
  2. Loan Transactions
  3. Summary
  4. Account details
  5. Maturity date
  6. Accruals
  7. Accounting
Moratorium User Interface – Finflux Cloud