BNPL EMI Product Template
Configuration Fileds | Description | Example |
EMI Product Name | Name of the Credit Line EMI Product | M2P Postpaid |
EMI Product Short name | Short name of the Credit Line EMI Product | PP |
Product Type | Type of the Product | BNPL |
EMI Currency | EMI Loan Currency | Indian Rupee |
Computation Precision | Decimal Point | 2 |
Installment in multiples of | EMI Amount multiples of 1/10/100 | 1 |
Enable rounding during foreclosure | If enabled, foreclosure amount will be rounded to nearest ones place value using 'ceiling rounding method' | No |
Rate of Interest range | Min and Max Interest rate of EMI Product | Min : 1% |
Principal Amount | Min and Max Principal amount of EMI Product | Min : 1000 |
Number of Installments | Min and Max Installment of EMI Product | Min : 1 |
Repayment Frequency(Repaid every ) | Repayment Date of the EMI Product | 5th of every month |
interest calculation method | Reducing Balance/Flat methods for interest calculation | Reducing Balance |
Installment amount derived based on | Amortization Type | Equal Installment |
Interest Day count convention | Number of days count for EMI Interest calculation | 30/360 |
Broken-period interest computation | Broken Period method for the days between Disbusement and First instalment date | Adding to the first Instalment’s Interest component |
Repayment Strategy Before NPA | Repayment Strategy Before NPA | Principal, Interest, Penalties, Fees Order |
Repayment Strategy After NPA | Repayment Strategy After NPA | Principal, Interest, Penalties, Fees Order |
Enable excess payment parking? | To park the advance payment at loan level | No |
Enable various deductions from disbursement | Charge fees are collected at the time of disbursement | Deduct processing fee(1%) from disbursement |
Number of days a loan may be overdue before moving into arrears | Grace period given before moving into arrears | 0 |
Maximum number of days a loan may be overdue before becoming a NPA (non performing asset) | Number of days for loan to tag as NPA | 90 |
On NPA stop interest accrual in LMS & FA system also stop penalties | It stops all interest accrual in LMS and Finacial accounting | Yes |
Account moves out of NPA only after all arrears have been paid | It defines when account should move out of NPA | Yes |
EMI Sequence | Sequence pattern for the EMI Poduct | INDEMIL000001ABC |