Mobile Field Officer Applications
Payment and Process Orchestration
Core Banking & Embedded Finance
Application Framework
How to Add Collateral to a Loan Account
One or more collateral items can be added to a loan account application. Collateral can be added to loan accounts in the following ways:
  • Collateral items can be selected and attached to the loan account application when the loan account application is being created.
  • Collateral items can be selected and attached to the loan account application by modifying a loan account application in Pending Approval status.
  • Collateral items can be selected and attached when viewing the loan account application by clicking Add Collateral from the More menu on the action bar (the Add Collateral option is available when the status of the loan account application is Pending Approval).
Adding a collateral item to a loan account application does not affect the loan account application's status.
Only the collateral type choices available in the selection list are acceptable to your financial institution.

To add or modify collateral items to a loan account application when creating or editing a loan account application

When creating or editing a loan account application, navigate to and complete the collateral fields. Click Submit when done. See Loan Account Fields Collateral.

To add collateral items to a loan account application when viewing a loan account application

When viewing a loan account, click More and select Add collateral on the action bar.
  1. 1.
    Select Collateral type from the list.
  2. 2.
    Type the amount in the Amount field. The amount is the value of the collateral item expressed in the same currency as the loan account's currency.
  3. 3.
    Type a description for the collateral item.
  4. 4.
    Click Submit.
Last modified 2yr ago