Additional Fields for Installment Loans
A loan product of this type can be used to cover a situation, such as construction, where the borrower makes progressive payments until the total approved principal amount for the loan account is reached. In the example table below, up to 5 disbursements can be made for an outstanding balance of 1,000 (in the loan currency). When opening a loan account, the actual number of disbursements and its maximum outstanding balance (up to a maximum of 1,000) will be set.
| Field Name | Description | Example | Validations (if applicable) |
| Maximum Number of Installments | The maximum number of disbursements allowed for a loan account. | 5 | Numeric field |
| Maximum Allowed Outstanding Balance | The maximum allowed outstanding balance for the loan account at any given time. | 1000 | Numeric field (assumes the loan product’s currency applies) |
