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The new loan that replaces the outstanding balance on an older loan, and is paid over a longer period, usually with a lower installment amount. Loans are commonly rescheduled to accommodate a borrower in financial difficulty and, thus, to avoid a default. Also called restructured loan.

Click the Reschedule button and the new window opens.

Reschedule (LOAN_RESCHEDULE) permission should be granted to authorised employees using roles permissions. 

You can change the following fields:

  • Reschedule date - specify the reschedule date
  • First installment date - specify the new installment date
  • Interest rate - specify the new interest rate
  • Maturity - specify the new maturity (in periods)
  • Grace period - specify the new grace period (in periods)

Once you have changed them you can preview the repayment schedule and save. After that, the customer will have a new repayment schedule.

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