Bill amount as percentage of the credit limit
Use this billing method to generate bills of fixed amount. You can fix the amount to a certain percentage of the credit limit.
In the following example, for both the Draw and the Repayment terms, the Bill Amount as percentage of Credit Limit billing method is selected.
| Credit Limit | Draw Term Percentage | Draw Term Amount | Repayment Term Percentage | Repayment Term Amount |
|---|---|---|---|---|
| 5000 | 10 | 500 | 10 | 500 |
| 5000 | 11 | 550 | 12 | 600 |
Behavior if the application payment mode is spread:
In the following example the Bill Amount is 500 so the Billed Amount is adjusted as shown below, and the remaining amount is adjusted in the subsequent bills.
| Actual Amount | Billed Amount |
|---|---|
Fee=800 Interest=I Principal=P | Fee=500 Interest=0 Principal=0 |
Behavior if the application payment mode is date:
In the following example the Bill Amount is 500 but the Actual Amount is more than 500 so the Billed Amount needs to be changed as shown below.
| Actual Amount | Billed Amount |
|---|---|
Fee=800 Interest=I Principal=P | Fee=800 Interest=I Principal=0 |