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Loan Ledger Card

The loan ledger card helps to generate a detailed track of loans processed, i.e., from loan application, approval, disbursement, a breakdown of installments due and even repaid loan amounts if any.

How to view the Loan Ledger Card.

To view the loan ledger card you go to menu Loans/Portfolio Reports/Loan Ledger Card. A screen will appear looking as follows:

          

  


The above Loan ledger cards have two interest rates displayed: The Annual Interest Rate (AIR) and the Effective Interest Rate (EIR).

The Effective Interest Rate means the total costs involved in securing the Credit/Loan stated as an annual rate of Loan/Credit. It is the total value of the Credit calculated according to the methodology presented there in

The two (KA/000010 and KA/000011) loans above have the same loan conditions in terms of Loan amount, annual interest and loan period. But one has other fees like Stationery, loan commission and development fees as identified below and that is the cause of the difference in the Effective Interest Rate between the two loans.

See the image below:

Total cost of credit to the customer means all costs, including interest, commissions, taxes and any other kind of fees which the customer is required to pay for the MFI in connection with the credit agreement/contract; other compulsory expenses in respect of ancillary services relating to the credit agreement, in particular.
Loan Performer will compute the EIR along side the annual interest rate and will reflect both on the client's Loan Ledger card as shown above:

Print against original dues:

In the example below, we shall look at Loan number KA/000012 that appears as bellow:  

As seen above, the installment due on 03/03/2022 was repaid on the same date: which was 134,001(principal being 133,080 and interest 920.55. On 04/04/22

a repayment is made which is one day after the installment due date. The principal shown is as per schedule but the interest changes to 702 (not 680.10) because interest is recalculated at repayment. Therefore the repayments made are shown against the original dues at disbursement.

Print against current dues:

In the example below, we shall look at printing against current dues. The report for Loan number KA/000012 appears as follows: 

In the above loan ledger card, an installment was due on 03/04/22 and a repayment was made on 04/04/22.  The payment was one day late and Loan Performer has recalculated the interest. The recalculated interest is more than the due date interest of the previous day. The report for current dues shows this as the due installment of 03/04/2022 with zero interest, a new installment due on 04/04/2022 showing the recalculated interest and a repayment on 04/04/2022.

The above options (print against current dues and print against original dues at disbursements) will work only if the interest calculation method selected is the declining balance and not flat rate.

Choose the appropriate category of loan for which you want to generate the loan ledger card, e.g., "Individual loan". You can also choose "Group loan" or "Group member(s)".

Update passbook:

figure 1

This is only possible if only a single loan number is selected. If you select a range of loans then this option will be read only.

From this pop up screen, you can identify the line number(s) that you want to print in the passbook. When the right line(s) has been identified, then close to revert to the loan ledger card screen. The loan ledger card screen will then look as follows (only when the Update passbook option is selected and a loan number has been entered).

Click on the Ok command button to view the loan ledger card which looks like below:

      

Close the loan ledger card screen to exit. .

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