Credit Line Creation

Owned by Nisha Kumari (Unlicensed)
Last updated: Jun 22, 2023
5 min read

OBJECTIVE

In this section of the manual, you will know how to create a new credit line.

  1. When you create a BNPL customer, you will see the below screen which shows new customer details entered by you. Click on ‘Create New Line’ button as shown.

2. Once you click on ‘Create New Line’ button, you will see the below screen which contains the following sections:

  1. Basic Details

  2. Billing

  3. Due

  4. Charges

You need to fill all the sections and keep clicking on ‘Next’ button to proceed.

1. Basic Details

It contains the following fields:

  • Product Name: Select the product name as: Kotak BNPL Revolving Product (which is already configured in the database).

  • Maximum Usage Limit: Once you select the product, you will see a message appearing under ‘Maximum Usage Limit’ that ‘The amount must be between 500 and 100000’. You need to enter any amount between this limit.

  • Validity: When you click on the dropdown under ‘Validity’, you will get various options to choose from. Select any one and proceed.

  • Submission Date: Select a submission date from the calendar icon.

2. Billing

It contains the following field:

  • Repaid every: Here, you will get two options to choose from.

  1. Weeks

  2. Months

  1. Weeks: When you select Weeks from the dropdown, you will get an additional condition as shown below. Select any day and proceed.

For example: If you enter 1 in the first field and select Mon, it means that the repayment will be every week on Monday.

 

2. Months: When you select Months from the dropdown, you will get three additional conditions as shown below. Select any one condition and proceed.

The three additional conditions are:

  1. Based on day: When you select ‘Based on day’, you will get two more fields as shown below for which you will get various options to select from the dropdown. Select any one and proceed.

2. Last day of the month: This means the repayment will be based on last day of the month.

3. Custom: When you select ‘Custom’, you will get option to select days as shown below. You can select any one or multiple days and proceed.

For example: If you enter 1 in first field and select last day of the month, it means that the repayment will be every month on last day of the month. (Refer the below page)

3. Due

It contains two options:

  1. Based on billing day: When you select this option, you need to enter number of days after billing day as shown below.

For example: If you select ‘Based on billing day’ and enter 1 in the provided field, it means that the due day is 1 day after the billing day. (Refer the below page)

2. Based on specific day: It contains the following field:

  • Repaid every: You will get two options to choose from as shown below.

  1. Weeks

  2. Months

This is similar to ‘Repaid every’ field under ‘Billing’ section. You can refer that here: Billing.

4. Charges

There are three applicable charges:

  • Event Based Charges: Event-based charges refer to fees or charges that are incurred by a customer based on specific events or transactions. These charges are typically applied by banks or other financial institutions to cover the costs associated with providing certain services or handling specific events.

  • Fee Charges: Fee charges refer to the costs or charges levied by the institution for providing various financial services or performing specific transactions. These fees are typically used to cover the costs associated with maintaining accounts, processing transactions, and offering additional services to customers.

  • Overdue Charges: Overdue charges refer to fees or penalties that are imposed when a customer fails to make a payment or meet a financial obligation by the due date. These charges are typically applied to encourage timely payments and compensate the institution for the additional costs and risks associated with late payments.

Finally, click on ‘Create’ button.

3. Once you click on ‘Create’ button, you will see the below screen which confirms that the credit line has been created successfully. Click on ‘Close’.

4. Once you click on ‘Close’, you will see the below screen which shows your newly created credit line. Click on the credit line which you created.

5. Once you click on the credit line which you created, you will see the below screen. Select an ‘Activation Date’ from the calendar icon and click on ‘Activate’ button.

6. Once you click on ‘Activate’ button, you will see a pop-up appearing as shown below. Click again on ‘Activate’.

7. Once you click on ‘Activate’, you will see the below screen.