Loan Account Overview Details
  • 30 Mar 2023
  • 2 Minutes To Read
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Loan Account Overview Details

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Article summary

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.

A loan account with information about balance, interest, currency, and so on

BalanceDescription
Total BalanceThe total amount of the loan, which consists of the principal plus any interest, fees, and penalties that may have been charged.
Principal BalanceThe total amount of principal.
Interest BalanceThe total amount of interest.
Interest from Arrears BalanceThe total amount of interest from arrears.
Interest AccruedThe amount of interest accrued by the current date.
Interest from Arrears AccruedThe amount of interest accrued from arrears by the current date.
Fee BalanceThe total amount of fees.
Total DueThe total amount that is currently due.
Principal DueThe principal amount that is currently due.
Interest DueThe interest amount that is currently due.
Interest from Arrears DueThe interest from arrears amount that is currently due.
Fees DueThe total amount of fees that is currently due.
Penalty DueThe total amount of penalties that is currently due.
Total PaidThe total amount that has been paid.
Principal PaidThe total principal amount that has been paid.
Interest PaidThe total interest amount that has been paid.
Interest from Arrears PaidThe total interest from arrears that has been paid.
Fees PaidThe total amount of fees that has been paid.
Penalty PaidThe 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.


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