Flexible repayment plan

Lenders can extend borrowers the flexibility of customizing the payment amount for defined periods of the loan. The payment schedules are generated based on the specified plan. If flexible repayment and step up schedules both are defined, the former takes precedence. The Flexible repayment procedure must be specified on the lending product to apply this feature.

If you are upgrading to CL Loan 2.3007 or later, you must

• Add the Flexible Repayment Plan related list to the: 
  • Loan Product Layout and Amortization Based Loan Product Layout of the Lending Product object
  • Loan Account Layout and Amortization Based Loan Payout of the CL Contract object

For steps to add related lists, refer to section Create a Section or a Related List on a Page.

Lenders can extend borrowers the flexibility of customizing the payment amount for defined periods of the loan. The payment schedules are generated based on the specified plan. If flexible repayment and step up schedules both are defined, the former takes precedence. The Flexible repayment procedure must be specified on the lending product to apply this feature.

If you are upgrading to CL Loan 2.3007 or later, you must

• Add the Flexible Repayment Plan related list to the: 
  • Loan Product Layout and Amortization Based Loan Product Layout of the Lending Product object
  • Loan Account Layout and Amortization Based Loan Payout of the CL Contract object

For steps to add related lists, refer to section Create a Section or a Related List on a Page.