Loans in Different Currencies

Article summary

Balance information from a loan account can be accessed through API v2 or the UI account overview. Days in arrears and days late are different concepts. Days in arrears start after the due date or arrears tolerance period, while days late begin after the due date. Interest details, including regular and late interest, can be viewed in the account overview. Foreign currency loans are available as an early access feature, allowing for loans in currencies other than the base currency.

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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.

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 Arrears from 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.

Loan Account Overview Details

Days in arrears vs. days late

Regular interest vs. late interest

Foreign currency loans

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