Business & Corporate Enterprise Service

You can create a payment order for transferring the funds from an account to a facility arrangement account to repay the facility amount.

Loan disbursements refer to the drawdown of the loan principal, which can be in a single disbursement or tranches. The proceeds of the disbursal can be channelized into a customer or customer-authorised account available within the bank or externally. In the former case, loan disbursements can be automatic (using a settlement account) or manual. In the latter case, funds can be transferred to another bank using clearing and other payment mechanisms.

You can create a payment order to move funds from a loan account to a funding account by specifying the details such as currency, debit amount, initiation type, credit account, and so on.

You can link between a financial institution, or payee, and a drawdown account to facilitate the automatic collection of funds through direct debit.

Loan payoff is the pre-closure of a loan in a single payment before the actual maturity of the loan tenure. Payoff can also be called foreclosure, early closure, or early settlement of a loan account. Loan payoff involves functions like a simulation of the outstanding amount payable and a distinct function for payoff loans based on the simulation.