Personal loan management software for unsecured loans

Lend to a known customer without collateral, then collect the way it really happens: interest when they can, principal in part payments, and one closing when they settle.

A personal loan here is an interest-bearing loan of a fixed amount given on trust. It is set up like a term loan, with an amount and an interest rate and no ornament entry. You can record what it was lent against, such as a vehicle, property or jewel, without entering ornaments one by one.

Repayment is flexible and works like a pledge. The customer pays interest when they can, pays the principal down in part payments and closes the loan in one go. There is no fixed EMI schedule.

How a personal loan runs

• Set up the loan: Customer details, photo, up to 3 proof documents, amount, interest rate and processing fee.
• Collect interest: Pay interest when the customer is able to, using the same interest screens as pledges.
• Reduce the principal: Take part payments at any time, and interest follows the new balance.
• Close: Close the loan with the exact amount due, using the same closing calculation as pledges.

Why it works this way

• Same repayment screens: Interest payment, part payment and closing behave as they do for pledges.
• No ornaments: No ornament-by-ornament entry. Record what it was lent against if you want to.
• Settings: Control the loan number prefix, default rate and mode, processing fee, header text and optional nominee.
• Personal-only shops: An option hides the pledge-only menus for shops that run personal loans only.
• Separate lists: Recent and search screens list personal loans on their own.
• Accounts: Personal loans appear in the day book and profit report along with pledges.

Related

• loan manager
• term loan software
• loan management software
• pawn broker software
• Pawn broker software in Tamil (தமிழ்)

Frequently asked questions

What is a personal loan in this software?

A fixed-amount, interest-bearing loan with no ornament entry, repaid like a pledge: interest when the customer can, part payments and a single closing.

Is there a fixed EMI?

No. Repayment is flexible. If you want a fixed schedule, use the term loan module.

Can I record what the loan was given against?

Yes, for example a vehicle, property or jewel, without entering ornaments one by one.

Can a shop run only personal loans?

Yes. An option hides the pledge-only menus.

Contact 2Dot Solutions in Karaikal