Rubikon provides a flexible framework supporting credit applications, retail and corporate lending, including loan origination, loan set-up, repayments scheduling and rescheduling, disbursement, lifecycle and penalty processing, delinquency and past due management, identifying non-performing assets, provisioning, customer and group limits monitoring, group lending, insurance and collateral management and reporting. All processing can be enabled and monitored through workflow and the externalized rules engine.
Loan Products
Handle multiple loan products with different Rate Type & Structure of Interest Calculations
Allows configuring Floating Rate for loan products
Can manage repayments with any number of frequencies
Configurable repayment priorities at product level
Configurable Loan Application Processing with multi-level recommendations
In built Loan Calculator
Moratorium, Grace Periods, Group Meeting Dates etc.
Instalment Holiday can be applied for selected clients in case of calamities/unforeseen problems
Ability to apply penalties to arrears
Ability to disburse loans to different type of customer (Individuals, Groups, Group Members, Institutions) • Post Dated Transaction. Allows Multiple Disbursements (in stages)
Bulk Entry for Loan Receipts
Allows for early payments, pre-closure, write-off and restructuring of loans
Allows defining Fees (Percentage/Amount) collectable at various stages.
Allows for clients to transfer funds from savings account to repay loan
Can track loan portfolio and other key indicators by loan officer, branch, client
Correct loan portfolio aging and delinquency calculation mechanisms
Allows for collateral and guarantor tracking
Allows for aging period and percentages of loan loss reserve to be defined for loan product.
Loan Features
Loan Restructure
Loan Financing
Loan Refinancing
Loan Top-up
Line of Credit
Repayment Holiday OR Skips
Balloon Payment Loan
Loan Restructure
Rubikon offers changing the term of loans, make any additional advance or changing interest rate to make it easier and convenient for them to pay back through restructure functionality.
Loan Financing
A moratorium period is the time during a loan term when the borrower is not required to make any repayment. So basically it is a length of time during which you enjoy a holiday. Also we can customize how interest to be paid during moratorium period in Rubikon. We do offer four options
• Waive:
Interest will be waived for the moratorium period
• Accrue and Defer:
Interest will be computed for the moratorium period and included it in the EMI amount.
• Accrue and Charge:
Interest will be computed for the moratorium period and the borrower has to pay the moratorium interest amount alone for each instalment during this period.
• Accrue and Amortize:
Interest will be computed for the moratorium period and the borrower has to pay the moratorium interest amount from loan repayment start date.
• Waive:
Interest will be waived for the moratorium period
• Accrue and Defer:
Interest will be computed for the moratorium period and included it in the EMI amount.
• Accrue and Charge:
Interest will be computed for the moratorium period and the borrower has to pay the moratorium interest amount alone for each instalment during this period.
• Accrue and Amortize:
Interest will be computed for the moratorium period and the borrower has to pay the moratorium interest amount from loan repayment start date.
Loan Refinancing
We have the provision to refinance a loan through which a borrower can close the running loan/loans through the disbursement proceeds of the new loan which would be created as extra loan. This loan is offered to customers who have an existing relationship with the lender, have a good credit score and have repayment ability.
Loan Top-up
This is an extension of loan refinancing which is a financing option that is offered over and above the existing loan amount for products such as home loan and personal loan. The major benefit of the top-up loan is that it can be availed at low-interest rates as compared to a personal or gold loan.
Line of Credit
A line of credit is a flexible loan which is a defined amount of money that you can access as needed and then repay immediately or over a prespecified period of time. The borrower can take money out as needed until the limit is reached, and as money is repaid, it can be borrowed again in the case of an open line of credit.
Repayment Holiday OR Skips
An unique feature which allows the borrower to skip payments. The payment you skip is added later in your loan payment schedule. Skipping a payment doesn’t mean skipping out on interest! Interest still accrues on your account as usual during the skipped payment period and throughout the newly extended life of the loan.
Balloon Payment Loan
A unique feature which allows the borrower to negotiate his / her own payment amount (principal + interest or Principal amount) on each instalment to their convenience. Therefore the borrower will end up paying huge amount at the end of the repayment term in a single payment, thus making it as a Balloon payment.