Loan Application Charges Payment – Auto Debit from Savings Account

The Loan Application Charges Payment – Auto Debit from Savings Account feature allows members to conveniently pay their loan charges before the loan is disbursed. This automatic payment method ensures that loan charges, specifically for the Credit Product Policy (CPP) that necessitates payment at the time of loan application, are seamlessly managed.

How It Works

Upon loan approval, the administrative staff activates the auto debit feature. Here are the steps involved:

1. Navigate to the loan applications section.
2. Locate and open the respective loan application that requires approval.
3. Scroll down to view the approval stages.
4. Edit the stage to enable approval by the admin account you’re operating in.
5. Fill in the indicated required charge amount.
6. Click on the auto debit option.
7. Approve the loan once the necessary charge has been paid.

This streamlined process not only saves time but also ensures that members can efficiently manage their loan charges, facilitating a smoother loan application experience.