Mambu supports five types of loans as listed below.
1. Fixed Term Loan
A type of product with Fixed interest rate, which is determined at loan account creation and does not decrease with prepayments.
2. Dynamic Term Loan
A type of product with Dynamic interest rate, which allows for interest recalculation and reduction when prepayments are performed.
3. Interest-Free Loan
A type of product with no interest charged.
4. Tranched Loan
A type of product that allows for loan disbursement in tranches.
5. Revolving Credit
A type of product that allows multiple disbursements and repayments on the account, similar to an overdraft, except that it has a payment plan associated with it in which some amount of principal and interest may be paid.
5. Offset Loan
A type of loan product which allows for a dynamic interest calculation, which allows enabling the "Redraw" facility for it, ultimately allowing a borrower to borrow money they've already prepaid. You can read more about it here.
The type of product can be selected when a new product is created:
Products can be made available to both Clients and Groups or to Solidarity Groups.