Apply prepaid fee on each disbursal
You can apply the prepaid fee on each disbursement of a loan funded in tranches or a line of credit. However, in this case, the "Include Fee in Loan Amount" option must Not be selected. Depending on the fee calculation method provided on the fee associated with the prepaid fee, disbursal distributions are created for the disbursal amount. For more information on this feature, refer to sections:
- Adding Prepaid Fees in the CL Loan User Guide for Simple Loans
- Adding Prepaid Fees in the CL Loan User Guide for Line of Credit
- Adding Prepaid Fees in the CL Loan User Guide for Amortization Based Loans
If you are upgrading to CL Loan 2.500x or later, you must add the Apply On picklist to the Pre-paid Fee Layout page layout of the Pre-paid Fee object. For steps to do this, refer to section Modify the Page Layout.
Select "Every disbursal" in the Apply On picklist to apply the prepaid fee on each disbursal.