The Loan App Settings can be accessed under the Loan Management section. This feature is responsible for displaying loan offers based on eligibility settings. It ensures that not all customers will see or be able to request a loan.
In order for a customer to qualify and book a loan, they must have carried out transactions worth a specified value set on the loan product. This requirement ensures that customers have a certain level of financial activity and history before being eligible for a loan. By setting this transaction threshold, the loan app can determine the customers who are most likely to repay the loan based on their financial behavior.
The eligibility criteria serve as a measure to mitigate risk and improve the overall loan repayment rate. By filtering out customers who do not meet the transaction value requirement, the loan app can focus on providing loan offers to those individuals who have demonstrated a certain level of financial stability and capability to repay their loans.
The Loan App Settings provide flexibility for configuring the eligibility criteria, allowing the loan management team to adjust the transaction value based on various factors such as the loan product, risk assessment, and customer segmentation. By fine-tuning these settings, the loan app can effectively tailor loan offers to specific customer segments, ensuring a higher likelihood of loan repayment and reducing the risk of default.
Overall, the Loan App Settings in the Loan Management section play a crucial role in determining loan eligibility and ensuring that loan offers are displayed to the most qualified customers, enhancing the efficiency and effectiveness of the loan application process.
The Loan App Settings can be accessed under the Loan Management section. It is responsible for displaying loan offers based on eligibility settings, ensuring that not all customers will see or be able to request a loan.
To configure the Loan App Settings, you can input the following parameters:
Loan product: Specify the type of loan product being offered, such as personal loans, business loans, or mortgage loans.
Loan type: Choose the specific type of loan within the selected loan product, such as fixed-rate loans, variable-rate loans, or installment loans.
Duration period: Set the time period for the loan, which determines how long the borrower has to repay the loan. It can be defined in months or years.
Duration: Specify the specific length of the loan duration, such as 12 months, 24 months, or 36 months.
Repayment cycle: Determine the frequency at which loan repayments are made, such as monthly, bi-weekly, or quarterly.
Min principal: Set the minimum loan amount that can be requested by the customer. This ensures that loans below a certain threshold are not offered.
Max principal: Define the maximum loan amount that can be requested by the customer. This helps limit the exposure to risk and prevents excessively large loans.
Min transaction: Specify the minimum value of financial transactions that the customer must have carried out to be eligible for the loan. This helps assess the customer's financial activity and history.
Max transaction: Set the maximum value of financial transactions required for loan eligibility. This helps establish an upper limit on the customer's financial activity.
Min wallet balance: Determine the minimum balance that the customer must maintain in their wallet or bank account to be eligible for the loan. This ensures that customers have a certain level of financial stability.
Max wallet balance: Set the maximum balance allowed in the customer's wallet or bank account. This can be used to control risk and prevent excessive borrowing.
No active loan: Specify whether the customer should not have any active loans at the time of loan application. This helps prevent customers from taking multiple loans simultaneously.
Remark: Provide any additional notes or comments related to the loan settings, such as special conditions or considerations for specific loan products or customer segments.
By configuring these Loan App Settings, you can effectively control the loan offers displayed to customers based on their eligibility criteria. This ensures that loans are offered to qualified customers who meet specific financial requirements, improving the efficiency and effectiveness of the loan application process while reducing the risk of default.
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