Loan Repayment and Overdue Reminder Notifications 

The automatic SMS notifications for loan repayments and overdue reminders are important because they ensure timely communication with borrower. These notifications can be configured directly within the Credit Product Policy (CPP) settings.

Setup Process:

• Edit the CPP:
  • Navigate to the Credit Product Policy (CPP) and make the necessary product policy edits.
  • Submit the changes and ensure the policy is approved to activate the settings.

• Configure Notification Days:
  • Under Settings in the CPP, input:
    • “Before Due Date Notification Days”: Number of days before the repayment is due.
    • “Overdue Date Notification Days”: Number of days after the due date for overdue reminders.
  • Submit the updated CPP and approve it to enable the feature.

Key Points:

• Automatic SMS Alerts:
  Once configured in the CPP, the system will automatically send SMS notifications to borrowers as per the set schedule.
• Applicable Charges:
  Standard SMS charges apply for these notifications.

This feature streamlines loan repayment communication, reduces defaults, and ensures borrowers are well-informed about their obligations.