Goods. QFund TM provides a solution that is complete handling the pay day loan deals for loans which are disbursed to borrowers in substitution for checks drawn from the mortgage lender

Personal credit line (Secured / Unsecured)

QFundTM supports both secured and line that is unsecured of (LoC). The device enables authorized users to process a brand new loc predicated on client application on line or in the shop. Both guaranteed and quick unsecured loans may be

1. For fixed terms or without any limitation to term
2. Revolving or not revolving

This product is totally configurable and supports co – debtor support, has payment that is configurable period times, supports auto/manual closure of line. It may help configurable declaration platforms and declaration times.

Features

Salient attributes of this system are since below and all of them may be configured within the system in line with the company or needs that are regulatory.

• The client will probably be confirmed for several underwriting demands.

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• The client will be permitted to simply simply just take a variety of disbursements up to a authorization that is specified utilizing the Limit/ Maximum Amount
• The LoC might have a hard and fast element of charge being charged during the time of loan processing and a component that is variable.e. rate of interest being charged on easy interest foundation.
• The client needs to make payment that is minimum or before deadline utilizing the belated charge being charged on the basis of the pre-configured values in case there is standard in re payment.
• Statements should be delivered to the shoppers by the end of every payment cycle, much like charge card statements, often spanning as much as a thirty days beginning with the date loan is prepared.
• Client will be defaulted over predefined quantity of non-payments. This can later be charged down.
• The process that is charge-Off be either Manual or car process.
• After the consumer account is defaulted, the month-to-month payment statements will likely to be stopped thereafter and immediately prevents finance charge that is incurring.
• Personal credit line max and min loan quantities are configurable company guidelines.
• re re Payments – System will create a billing that is monthly when it comes to consumer showing username and passwords including loan disbursements, accrued Finance costs, brand New Balance and minimal re re re payment due.
  • Client need to pay at the very least payment that is minimum shown into the declaration on or prior to the re re payment deadline suggested within the Statement.
  • Minimal re payment shall consist of finance cost accumulated through the end of billing cycle.
  • Minimal re re re payment includes (per cent) of major stability regarding the loan outstanding regarding the client account. (percent) is configurable business guideline.
  • Minimal Payment will even consist of any payment that is late or any other quantities previously due and outstanding on client account.
  • Consumer has solution to frequently pay more and spend a lot more than Minimum Payment due.
  • Client has choice to pay-off the total amount at any true point of times.
  • If your re re payment is X (Configurable guideline value) or even more days late, belated charge will likely be charged in the client account corresponding to $ (Configurable guideline value).
  • Every time the client helps make the re payment it goes first to Membership charge, belated cost, finance fees and minimal stability principal consequently.
• Yearly Fee or Membership Fee – Customer account is supposed to be imposed having a fee that is annual the total amount of $ for the accessibility to the account. This is imposed in the date that the account is opened and you will be imposed annually so long as the account continues to be available. This is configurable company guideline.

Retail Installment Credit

The Retail Installment loans are meant for clients who want to avail loans to buy of products from different merchants during the point of purchase of products. The selects that are applicant or solutions given by the merchants inside their real shops or online portals and select loan option at browse.

As soon as a loan is set up because of the customer/merchant, the mortgage details are confirmed therefore the eligibility is examined by underwriting engine. On the basis of the eligibility associated with the client the vendor cost details, advance payment, Trade In and borrower details Loan Eligibility comes from.

Client has got the solution to pick the loan choice by confirming the given information given by the machine.

The product additionally provides just like cash substitute for the client predicated on various requirements configured within the system.