"Subscription" Functionality

Subscription

The essence of the credit product: interest rate 0%, loan for 1 payment period with the possibility of prolongation subject to payment of the subscription amount by the end of the last day of the previous tranche. If the payment period has ended and by the last day after the end of the payment period neither the principal debt amount nor the subscription amount for prolongation was paid, the credit product changes.

To configure a credit product with subscription functionality, the following data must be filled in the "Credit Products" directory:

- the number of tranches in the application must be equal to 1

- credit line must not be specified in the contract settings

- all principal debt must be on the last tranche

- the Tranche Duration for Prolongation field must be filled in the contract

- two types of fees must be added:

1) Amount type – any, Accrual moment – Subscription, Fee type – amount, Value – subscription amount

2) Amount type – any, Accrual moment – any, Fee type – amount, Value – subscription amount

The amount type that will be used for the Subscription fee must be present in the Repayment Order directory so that this fee is taken into account during repayment with prepayment.

Prepayment for subscription is accepted and credited from interest prepayment (similar to other fees).

On the stand that will be tested, it will be necessary to change the auto-accept rules so that incoming cash flow documents are accepted by the Repayment with Prepayment process and Repayment with Prepayment

For the subscription scheme, contracts must be processed by the process type "Processing with Prepayment Offset and Prolongation" (id 1014394). Prolongation is performed on the next day of the tranche on the condition that the subscription fee was deposited and applied to prepayment, and also after prolongation, a subscription fee accrual document is executed after successful completion of prolongation.

For the auxiliary credit product to appear in the application, it is necessary to make the Auxiliary Credit Product collection (secondaryCreditProductId) visible in the model editor. For this collection to appear automatically (relevant for Personal Account), it is necessary to add a command in SPR: loanApplication = loanApplicationManager.applySecondaryCreditProduct(loanApplication, 101339)

Where 101339 – ID of the credit product.