# Loan Product Fields—Additional Fields for Loans with Variable Terms based on Loan Cycle

#### **Loan Product Fields—Additional Fields for Loans with Variable Terms based on Loan Cycle** <a href="#loanproductfields-additionalfieldsforloanswithvariabletermsbasedonloancycle-loanproductfields-additi" id="loanproductfields-additionalfieldsforloanswithvariabletermsbasedonloancycle-loanproductfields-additi"></a>

*I raised an issue regarding the inconsistent use of terminology (i.e., loan cycle vs borrower cycle).*

Multiple variations for a Borrower Cycle can be set up for:

* Principal amounts (minimum, default, maximum)
* Number of Repayments (minimum, default, maximum)
* Interest rate (minimum, default, maximum)

See Loan Product Fields—Additional Fields for Loans with Variable Terms based on Loan Cycle#Examples.

#### **Principal Variation for Borrower Cycle**

To add Principal Variations, click **Add** until there are sufficient rows for the principal variations required.

Complete a row for each principal variation.

| Field name (attributes) | Description                                                                     | Example | Validations (if applicable) |
| ----------------------- | ------------------------------------------------------------------------------- | ------- | --------------------------- |
| Logical operator        | Select **equals** or **greater than** from the drop-down list.                  |         |                             |
| Borrower cycle          | Identify the Borrower cycle (see Glossary) affected by the principal variation. |         |                             |
| Minimum                 | The minimum principal amount.                                                   |         |                             |
| Default                 | The default principal amount.                                                   |         |                             |
| Maximum                 | The maximum principal amount.                                                   |         |                             |

**Number of Repayments Variation for Borrower Cycle**

To add number of Repayments, click **Add** until there are sufficient rows for the number of repayments variations required.

Complete a row for each number of repayments variation.

| Field name (attribute) | Description                                                                                | Example | Validations (if applicable) |
| ---------------------- | ------------------------------------------------------------------------------------------ | ------- | --------------------------- |
| Logical operator       | Select **equals** or **greater than** from the drop-down list.                             |         |                             |
| Borrower cycle         | Identify the Borrower cycle (see Glossary) affected by the number of Repayments variation. |         |                             |
| Minimum                | The minimum number of repayments.                                                          |         |                             |
| Default                | The default number of repayments.                                                          |         |                             |
| Maximum                | The maximum number of repayments.                                                          |         |                             |

**Interest Rate Variation for Borrower Cycle**

To add Interest Rate variations, click **Add** until there are sufficient rows for the number of interest rate variations required.

Complete a row for each interest rate variation.

| Field name (attribute) | Description                                                                         | Example | Validations (if applicable) |
| ---------------------- | ----------------------------------------------------------------------------------- | ------- | --------------------------- |
| Logical operator       | Select **equals** or **greater than** from the drop-down list.                      |         |                             |
| Borrower cycle         | Identify the Borrower cycle (see Glossary) affected by the Interest Rate variation. |         |                             |
| Minimum                | The minimum interest rate.                                                          |         |                             |
| Default                | The default interest rate                                                           |         |                             |
| Maximum                | The maximum interest rate                                                           |         |                             |

#### **Loan Product Fields—Additional Fields for Loans with Variable Terms based on Loan Cycle#Examples** <a href="#loanproductfields-additionalfieldsforloanswithvariabletermsbasedonloancycle-loanproductfields-additi" id="loanproductfields-additionalfieldsforloanswithvariabletermsbasedonloancycle-loanproductfields-additi"></a>

**Scenario One**: Variations will apply to the third and fourth loan accounts of this loan product for a client.

Implementation:

1. Principal Variations:
   1. Add two rows to the **Principal Variations for Borrow Cycle** section
   2. In the first row, select **equal** from the drop-down box
   3. Type the number 3 into the borrower cycle field
   4. Type the minimum, default, and maximum principal amounts for borrower cycle three
   5. In the second row, select **equal** from the drop-down box
   6. Type the number 4 into the borrower cycle field
   7. Type the minimum, default and maximum principal amounts for borrower cycle four&#x20;
2. Repeat the steps above for number of repayments and interest rate as applicable.

**Scenario Two**: Variations will apply to all loan accounts of this loan product after the first loan account for a client.

Implementation:

1. Principal Variations:
   1. Add one row to the **Principal Variations for Borrow Cycle** section
   2. In the first row, select **greater than** from the drop-down box
   3. Type the number 1 into the borrower cycle field
   4. Type the minimum, default, and maximum principal amounts for borrower cycle three
2. Repeat the steps above for number of repayments and interest rate, as applicable.
