Loan Release Function - Introduction

Loan release simply refers to credit facility been make available to customers (or borrowers) for use in catering to the required needs that have been made known to the financier.

In case of personal loan, once the application has been reviewed and approved, customer will be notified to accept the credit facility offered.

After the customer has accepted the credit facility and its terms and conditions, the next step is to disburse the credit facility.

Therefore, this function will come in handy to allow users to do the followings:-

  • Input the credit facility amount to be disbursed

  • Input other payout details, e.g., Payee Type (Borrower or Others), Payee Name, Transaction Mode (Cheque, or Journal or Telegraphic Transfer)

  • Perform approval (Decision: Approve, or Rework, or Reject) on completed disbursement requests

Only credit facility accounts that fulfill the following conditions can proceed with this function:-

  • Each account must be in the A - Active' status.

  • The credit facility has not been cancelled.

  • The credit facility has not been fully released yet.

  • No pending approval’s release request made on the credit facility account.

Assigned approver of disbursement requests' can access the respective assigned disbursement request at the 'Officer Workdesk' function via the 'Approval' task card.