Closing a Loan With All Obligations Met
  • 27 Oct 2021
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Closing a Loan With All Obligations Met

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When a client finishes repaying a loan, the account balance goes to zero due and you can close that loan account.

To close a loan account:

  1. Open the account.
  2. On the right-hand side of the screen, select Close.
  3. Optional: Add a comment.
  4. Select Close.

Closing a loan account when the account has all obligations met

After closing the account, its state will change to Closed and it will be stored in the client's profile under the Closed Accounts tab.

If you would like Mambu to automatically close loan accounts that have been fully paid, you can set up a Dormancy period when setting up the loan product.

Undo a loan closure

To undo a loan closure, in the account overview page, on the right-hand side of the screen, select More > Undo Closure.

The maximum number of days during which a loan closure can be undone can be set under Administration > General Setup > Internal Controls. For more information, go to Internal Controls.


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