If your institution offers Financing to Educational Institutions you will need an application that can handle the various types of entities and Trusts that run Educational Institutions and the variations in norms and documentation for such trusts.
What is School Loans?
School Loans are credit facilities extended by Banks and NBFC's to eductaion Institutions and Trusts for funding purchase of educational equipment or funding school buildings. The advance is extended with the expectation that the school fees will be used to repay the loan.
AnyBank Suite and School Loans
The AB Suite can handle financial products targeteted at different types of customers. Parameters are defined for a product and for the Customer Constitution. This allows us to handle School loans of varying tenures. It also allows us to handle variations in the quantum of loan funded - the amount disbursed could include the building plus the taxes plus registration fees plus Insurance plus stamp duty etc or the cost of purchasing the equipment. The product configuration can include structured fees and levies that are not limited to Processing, Documentation and Advance EMI's. Documents are specific to trusts include
- Trust Registration
- Trust Deed
- Trustee Profiles and Identity Documents
- Fees and Number of Students
- Bank Statement
Computation of Eligibility Norms and Credit Norms is automatic. We also offer interfaces to credit bureaus to fetch the credit report automatically for trustee evaluation. The application also check the trustees exposure to other advances. Field Investigations are triggered automatically. Interest computation on Loan accounts is automatic and can be based on an amortization schedule or Daily reducing balance method. We offer ACH, PDC's and on field collections as repayment methods. We also offer payment by several payment gateways.
Delinquencies flow into the delinquent module called AB CAPE and cases are allocated based on an allocation logic. Telecalling and field visits are recorded before cases are escalated and moved to various buckets as DPD increases. Case documentation and Case filing is also supported with readymade templates. AB CAPE also offers a method to securitize loans.