Configuring Your Digital Loan Application: Personal Line of Credit

Overview

This guide covers the specific settings for the Line of Credit product, including default loan criteria and rate table configuration to ensure a seamless member experience.

Default Loan Criteria

Set the baseline repayment logic for the product.

• Line of Credit % Minimum Payment of Balance: Define the minimum percentage of the outstanding balance that a member must pay each month (e.g., 2%).

Rate Table Management

Before making changes, it is important to understand how these two components work together:

• The Rate Table (View-Only): The table you see on your dashboard screen is a live preview of your current configuration. It displays rate sheets that have your active tiers, interest rates, criteria's and loan limits but cannot be edited directly on the screen.

• The Rate Sheet (Editable File): To change any data in the table, you must download the Rate Sheet (Recommended) or Start From Blank template, update it in Excel, and re-upload it. This sheet acts as the "source of truth" that updates the dashboard view.

• Please see the How to Update Your Rate Sheet Guide for Rate Updates

Saving

• Save: Click the Save button at the top right of the page to store your configurations.