Once a Loan is sanctioned, the loan amount is ready to be disbursed. For that, a Loan Disbursement entry is created.
To access the Loan Disbursement list, go to:
Home > Loan Management > Disbursement and Repayment > Loan Disbursement
Before creating a Loan Disbursement, you must create the following first:
2. How to Create a Loan Disbursement
Go to Loan Disbursement List, click on New.
Select Loan against which the loan amount is to be disbursed. The Applicant Type and Applicant will be fetched from the Loan.
Enter Disbursement Date.
Enter Disbursed Amount.
Click "Save" to save the draft of the Loan Disbursement.
Click "Submit" to submit the Loan Security Pledge.
Other ways to create a Loan Disbursement
You can also create a Loan Disbursement from a sanctioned Loan via the Create button on the top right
3.1 Multiple Disbursements against a Loan
Multiple Loan Disbursements can be made against a Loan unless you don't cross the sanctioned amount loan amount against a Loan.
3.2 Loan Topup
Loan Disbursement can also be made once some of the loan amount is repaid and adequate amount of security is still pledged against that loan. This is known as a loan topup.
Updated on: 02/09/2021