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Write Off

Once the Loan Application is approved you will get all the details as below,

Create Loan - Write-Off

Click on Write-Off tab. It specifies that a client’s loan will be written off by the bank. The loan account will be automatically closed once the loan has been written off.

Create Loan - Write-Off1

  • Write off on (*) – Select the Write Off date
  • Amount – Specify the amount you want to Write-Off
  • Write off Reason (*) – Choose the reason from drop-down ( You can add your reason in the Admin ->> System ->> Manage Codes ->> Search for WriteOffReasons ->> Add Code Values)
  • Note – Specify if you want to add any notes for your future reference

Once you have updated details click on Submit.

Create Loan - Write-Off Details

Now you can see the amount you have entered is Written-Off in the Personal Loan Form.