Loan Account Overview Details
- 30 Mar 2023
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Loan Account Overview Details
- Updated On 30 Mar 2023
- 2 Minutes To Read
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Balance information can be retrieved from a loan account via API v2 by using the Loan Accounts - getById endpoint. The same information is also available in the UI account overview, under Details.
| Balance | Description |
|---|---|
| Total Balance | The total amount of the loan, which consists of the principal plus any interest, fees, and penalties that may have been charged. |
| Principal Balance | The total amount of principal. |
| Interest Balance | The total amount of interest. |
| Interest from Arrears Balance | The total amount of interest from arrears. |
| Interest Accrued | The amount of interest accrued by the current date. |
| Interest from Arrears Accrued | The amount of interest accrued from arrears by the current date. |
| Fee Balance | The total amount of fees. |
| Total Due | The total amount that is currently due. |
| Principal Due | The principal amount that is currently due. |
| Interest Due | The interest amount that is currently due. |
| Interest from Arrears Due | The interest from arrears amount that is currently due. |
| Fees Due | The total amount of fees that is currently due. |
| Penalty Due | The total amount of penalties that is currently due. |
| Total Paid | The total amount that has been paid. |
| Principal Paid | The total principal amount that has been paid. |
| Interest Paid | The total interest amount that has been paid. |
| Interest from Arrears Paid | The total interest from arrears that has been paid. |
| Fees Paid | The total amount of fees that has been paid. |
| Penalty Paid | The total amount of penalties that has been paid. |
Days in arrears vs. days late
There is a difference between how many days an account is in arrears and how many days an account is late. In the example provided in the screenshot, a grace period of 12 days was set up.
- Days in Arrears: For products with no grace period, a loan account will be marked as
In Arrearsfrom the day following the due date. For products with grace period, the days in arrears will be counted from the day following the arrears tolerance period. - Days Late: If a loan has a grace period, the loan will intially be marked simply as late. The days late are calculated from the day following the due date.
Regular interest vs. late interest
In the Details section of the loan account, you can also see more information about interest from arrears including how much of the total interest comes from interest from arrears. Here is the difference between the regular interest and the late interest:
- Interest Balance: shows the total interest.
- Interest from Arrears Balance: shows how much of Interest Due is coming from arrears.
- Interest from Arrears Accrued: shows how much of Interest Accrued is coming from Arrears.
Please Note
- Interest Balance already contains Interest from Arrears Balance.
- Interest Accrued already contains Interest from Arrears Accrued.
Foreign currency loans
When your tenant is first created, you will be asked to choose a base currency. Later on, you may create additional fiat, crypto, and non-traditional currencies which you will use to create your products and accounts. For more information, see Currencies. Foreign currency loans are loans in a currency other than you base currency. Foreign currency loans is an early access feature.
Early Access Feature
If you would like to request early access to this feature, please get in touch with your Mambu Customer Success Manager to discuss your requirements. For more information, see Mambu Release Cycle - Feature Release Status.
Please Note
You can make transactions between loan accounts and deposit accounts only if their respective GL accounts are set in the same currency.
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