Closing a Loan (with all obligations met)
  • 22 Nov 2019
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Closing a Loan (with all obligations met)

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Closing a Loan (with all obligations met)

When a client finishes repaying a loan (the account has zero balance due), you will be able to close that loan account.

To close a loan account go to the account > click Close > add a note if desired > Close.

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 in the Loan Product.

Closing Account State when account has all obligations met

Undo a Loan Closure
To undo a loan closure please click More > Undo Closure .

The maximum number of days during which a loan closure can be undone can be set in the Administration panel under General Settings>Internal Controls. See here for more info.


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