Overview

The Line of Credit is a type of loan where the customer has a

single amount of pre-agreed available credit; however, rather than

being taken at once, customers are able to access funds as

required and each of these will form individual loans.

Key features include:

● Single line of credit

● Concurrent loans on a single account

● Interest accrual and application

● Repayment: Repayment day, repayment order, repayment

period, grace period

● Late payment penalties

● Overpayments

● Early repayment

● Repayment holidays

The Line of Credit comes with the following Workflows:

● Line of Credit Application

● Line of Credit Redraw Application

● Line of Credit Repayment

● Line of Credit Early Repayment

● Line of Credit Payment Notification

● Line of Credit Mark Delinquent