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How to Edit a Loan Application's Duration

How to Edit a Loan Application's Duration

Owned by Ivy Nzioka (Unlicensed)
Jun 30, 2021
2 min read

If there is a need for you to modify the duration applied for by an applicant, you can do so with just a few clicks on the Application Details page. Simply follow the following steps.

Important to note

  • It is best practice to reach an agreement with the customer about the new duration prior to modifying the duration.

  • You can modify the duration for applications in Pending or Under Review status or Offer Letter Sent status only.

  • The new loan duration can not be more than the maximum loan duration for the policy.

  • The new loan duration can not be less than the minimum loan duration for the policy.

 

  1. Go to the applications details page of the application you wish to modify.

  2. Click on Edit beside the duration detail on the applications details page.

 

3. Enter the new duration type and the new duration period.

4. Click Update.

The new loan duration is saved and the action is reflected on the application history tab.

 

The customer will also receive an email notifying them of the duration modification made to their loan application.