Prepayment Recalculation Methods

Loans Updated 1 Aug 2026 Version 1

Summary

See what happens to a loan's repayment schedule in CAMS when a member pays early or pays more than the instalment due. About 4 minutes · 10 steps. Also called: early repayment, overpayment, advance payment.

Prerequisites

  • Your CAMS sign-in.
  • The member's name or the loan account number.
  • Access to Settings, to check the method on the product.

Step-by-step

  1. Sign in to CAMS.
  2. In the left menu, click Accounts. The menu expands.
  3. Click Loans. The Loans page opens on the Active tab.
  4. Type the member's name or account number in Search, then open the loan. It opens on the Summary tab.
  5. Click the Repayments tab. Each payment is split into Loan Amount, Interest Amount and Charges. Anything paid above the amount due shows in Over Paid, confirming the prepayment landed.
  6. Click the Schedule tab. You'll see every instalment with its Due Date, Principal, Interest, Due, Paid and Balance.

What happens next depends on the recalculation method set for the loan's product, which an administrator can check under Settings → Policies → Credit Product Policy. All four cases below use one loan: 1,000 over 6 months at 10.33%, due on the 21st, with 600 paid partway through.

  1. With no recalculation, the payment clears the first two instalments with their interest, then pays down the principal of the third and fourth. Later instalments keep the principal and interest they always had.
  2. With reschedule the remaining payments, instalments already due are settled with their interest, and the rest of the schedule is rebuilt around what is left.
  3. With recalculate, keep the same number of terms, the instalment for the month of the payment is recalculated and later instalments are adjusted for the amount paid. The number of instalments stays the same.
  4. With recalculate, keep the same principal amount, the payment goes to instalments already due first. What is left pays off instalments at the bottom of the schedule, so the loan ends sooner.

Note: On monthly interest, interest for the current month is not taken early; it is charged only when it falls due. On daily interest it is charged up to the day of payment, so later instalments change too.

Warning: A credit product policy affects every loan under that product, not one member's loan. Save changes only after credit approval.

Common pitfalls & FAQ

  • The schedule looks unchanged. Under the no-recalculation method that is correct. Otherwise let the tab finish loading and open it again.
  • The payment isn't on the Repayments tab. Check the loan's Transactions tab. If it isn't there either, post it from Transactions → Teller → New Transaction → Client Transaction → Loan Repayment, or use Online repayment on Summary.
  • The interest doesn't match my figure. Check whether the product charges interest daily or monthly. A mid-month payment gives a different figure under each.
  • The repayments list is empty. On a loan disbursed but never repaid, that is normal.
  • I can't open Credit Product Policy. Your role may not allow it — ask an administrator.