How to Open a Loan Account: Follow these steps in the software
Step :1 Record > Loans > Loan Accounts
Step 2: Select the A/C Type member Loans Account.
Step 3: First, select the members’ loan type. then Click on the ‘Add’ button
Step 4: Select the customer ID of the customer for whom this member loan account is to be created.
Step 5: Enter the loan amount
Step 6: Enter the period for which you want to borrow the loan, for example, 12 months.
Step 7: Select the period type (12 months)
Step 8,9,10: Select the Scheme ID, and the interest rate, interest, and installment will be automatically set.
Step 11: Select the purpose for which you are taking the loan.
Step 12: Go to the next page guarantors details
Step 13: Click on the add button
Step 14: Enter all the information for the guarantors’ details and then click on the right icon.
Step 15: After entering all the information, click the ‘Save’ button, and your loan account will be open.
