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Date Rolling functionality
It marks the beginning of the repayment schedule and the first instance when the borrower needs to make a payment towards the loan.
DisbHowever, you may enable your users to change the start date and define the default shift.
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Disbursement Date: This is the date when the loan funds are actually transferred to the borrower's account. It indicates when the borrower has access to the loan amount.
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allows the adjustment of due dates that fall on holidays or weekends.
For example, if an installment due date falls on a weekend, it will be rescheduled to the following Monday.
The system also considers your company's calendar when rolling dates.
Please note that date rolling adjusts the payment date but does not cancel any interest or fees that are due. For instance, if a repayment period spans a single day, no payments will be expected on Saturday and Sunday. However, the payment due on Monday will cover all three days.