Overview
This page helps you understand how to add an EMI repayment schedule to a loan facility.
As part of adding, you need to specify Principal Payout period, Principal Payment Day, Payment Convention, Principal Rounding Mode, and TDS Rounding Mode in the Principal Repayments section of Loan Facility page.
Subsequently, you can preview and generate the schedule. However, to view the newly created EMI schedule, you need to click on the Refresh button on the Principal Repayments section
Note: You cannot generate the EMI repayment schedule again unless the existing principal repayment schedule is deactivated.
Adding an EMI repayment Schedule
1. On the Side Panel of Finvisage application, click Liability.
The menu is expanded.
2. On the expanded menu, click Loan Facility. See the image below:
The Loan Facility page is displayed on the right pane.
2. On the Loan Facility page, click the required loan facility.
The Drawdowns section is displayed.
3. In the Drawdowns section, click the External ID. See the image below.
The Drawdown page is displayed.
4. On the Drawdown page, scroll down to the Principal Repayments section.
5. Next, on the Principal Repayments section:
A. Click the Menu button.
B. Click Add EMI Schedule from the drop-down menu. See the image below:
The New EMI Repayment Equated Schedule screen is displayed.
7. In the New EMI Repayment Schedule screen, enter all the required details.
See the below instructions:
a. If you wish to select the EMI option, then enter the EMI Amount in the EMI Amount field.
The EMI Amount field is displayed upon selecting the EMI option.
b. If you wish to select the Tenure option, then from the Tenure Type drop-down box, select the required tenure choosing from Days, Months, or Years. Also, enter the tenure in the Tenure field.
The Tenure Type drop-down box and Tenure field are displayed upon selecting the Tenure option.
Note: The default selected option is Monthly. You can change it if required.
C. From the Payment Day drop-down box, select the required date.
C. From the Payment Convention drop-down box, select the required convention. Refer to the below table for the description of conventions.
| Convention | Full Form | Description |
| NADJ | No Adjustment | If this option is selected, then the system doesn't make any adjustment in case the payment date falls on a weekend or any other holiday. |
| FOLW | Following Day | If this option is selected, then the system will consider next working day as the payment date in case the payment date falls on a weekend or any other holiday. For example, if the payment date falls on a Sunday, then the system will consider next working day as the payment date. |
| PREV | Previous Day | If this option is selected, then the system will consider previous working day as the payment date in case the payment date falls on a weekend or any holiday. For example, if the payment date falls on a Saturday, then the system will consider previous working day as the payment date. |
| MD_FOLW | Monthly Adjustment Following Day | This option is used for monthly payment purpose. If it is selected, then the system will consider the following working day as the payment date in case the payment falls on a weekend or any holiday in a month. However, if the payment date falls on the end of a month and if it is a holiday, then the system will consider previous working day as the the payment date. For example, if Dec 31st is a holiday and if that is also the payment date, then the system will consider previous working day as the payment date. |
| MD_PREV | Monthly Adjustment Previous Day | This option is used for monthly payment purpose. If it is selected, then the system will consider previous working day as the payment date in case the payment date falls on a weekend or any other holiday in a month. However, if the payment date falls on the end of a month and if it is a holiday, then the system will consider following working day as the payment date. For example, if Dec 31st is a holiday and if that is also the payment date, then the system will consider next working day as the payment date. |
| EOM_NADJ | End of Month No Adjustment | This option is used for monthly payment purpose. If it is selected, then the systemwill consider end of every month as the payment date. |
| EOM_FOLW | End of Month Following Day | This option is used for monthly payment purpose. If it is selected, then the system will consider following working day as the payment date in case the payment date falls on the end of a month. |
D. From the Interest Rounding Mode drop-down box, select the required rounding option. Refer to the below table for the description of routing modes.
Tip: Rounding means making a number simpler to the closest value. Refer to the below table for the description of routing modes.
E. From the TDS Rounding Mode drop-down box, select the required rounding option. Refer to the below table for the description of routing modes.
| Routing Mode | Description |
| None | This option can be selected when there is no need to round the principal amount. |
| Round (0 Decimal) | If this option is selected, then the principal amount will be rounded to the nearest value without any decimals. For example, if the principal amount is 571.15, then it will be rounded as 571. |
| Round Up | If this option is selected, then the principal amount will be rounded up by adding 1 rupee. For example, if the principal amount is 571.75, then it will be rounded as 572. |
| Round Down | If this option is selected, then the principal amount will be rounded down by adding 1 rupee. For example, if the principal amount is 571.75, then it will be rounded as 572. |
| Round Up (2 Decimal) | If this option is selected, then the principal amount will be rounded up to 2 decimals. For example, if the principal amount is 571.752, then it will be rounded as 572.75 |
| Round Down (2 Decimal) | If this option is selected, then the principal amount will be rounded down by adding 1 rupee. For example, if the principal amount is 571.75, then it will be rounded as 572. |
E. After entering all the required information, click the Preview button.
The EMI Equated Schedules preview screen is displayed.
F. In the EMI Equated Schedules preview screen, review the schedules, and then click the Generate Schedule button at the bottom.
The schedule is initiated.
G. Finally, click the Refresh button in the Principal Repayment Schedule section.
The schedule is generated. See the sample image below.
