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Fee Table
You can use this table for fast reference. Please keep in mind that the table might be missing some of the details provided further the article.
For the sake of the table:
APR: Included into APR calculation
Dupl: You can create several fees based on this template
RS: Can be used in the products when restructuring a loan
Template Name | Description | Periodicity | APR | Dupl | RS | |
|---|---|---|---|---|---|---|
Administration fee | Applied to each loan installment to cover administration costs. Configurable as a fixed amount or percentage. | Each installment. | + | + | + | |
Disbursement fee | Charged on loan disbursement as a fixed amount or percentage. Included in the loan but deducted from the disbursed amount. | Upon disbursement. | + | + | + | |
Down payment | An upfront payment made by the Customer, deducted from the loan amount to reduce the principal to be financed. Deducted from the loan amount. | One-time fees, when the payment transaction is done by the Customer before disbursement. | + | - | - | |
Late fee | Penalty for late payments. Charged once payment is delayed by a the specified number of days.Once - as per the late payment schedule | Each time a payment is late as defined. | - | + | + | |
Leasing payment | Applied and must be defined when the loan type is Leasing | Each payment transaction | - | + | + | |
NSF | Charged when a payment fails due to Manual | Ad-hoc charge added by the Lender | Applied to the current installment on the day it is created | - | + | + |
NSF | Charged when a payment fails due to insufficient funds. | Each failed payment | - | + | + | |
Origination fee | One-time fee for loan origination. | Included in the first installment. | + | + | + | |
Past due interest | Interest on overdue payments, calculated daily/weekly/monthly/yearly. | Daily/ weekly/ monthly/ yearly as long as the loan is in the Past Due status | - | + | + | |
Payment holiday interest fee | A daily/weekly/monthly/yearly interest charged when a payment holiday is granted. | As long as a Payment holiday is applied. | - | + | + | |
Payoff fee | One-time fee for early loan repayment. | Once, when the loan is paid off ahead of the schedule. | - | + | + | |
Pre-approval fee | Fee paid before loan application approval. Loan cannot be approved until the fee is paid | One-time, before approval (zero-installment is created) | - | + | - | |
Pre-disbursement fee | Fee paid before loan disbursement. Loan cannot be disbursed until the fee is paid | One-time, before disbursement (zero-installment is created) | - | + | - | |
Repayment fee | Charged each time a repayment is made. Deducted from the repayment. | For each payment transaction. | - | + | + | |
Sales tax | Applied as a percentage of the paid principal. Deducted from the repayment. | For each payment transaction. | - | - | + |
How to manage Fees
Settings → Loan settings → Credit products
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For each fee you will see a window with dedicated settings (as shown below). The settings of each specific fee are displayed below
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Fee Types and Their Settings
Administration Fee
The administration fee is a recurring charge applied to each loan installment to cover the administrative costs associated with managing the loan. This fee ensures that the Lender can maintain efficient processing and servicing of the loan throughout its term.
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Periodicity: Each installment
Included into APR calculation: Yes
You can create several fees based on this template: Yes
Can be used in the products when restructuring a loan: Yes
Administration Fee Settings
The fee amount can be configured in the credit product settings and may be set as a fixed amount, a percentage of the loan amount, or a rate.
Field name | Parameters | Description |
|---|---|---|
Name | Administration fee | Full fee name Can be edited. |
Calculation basis |
| Define the fee base if the fee is set as a percent or rate. If a fee value is "Amount", the calculation basis is unavailable. |
Use variable fee value |
| Allows different loans based on this credit product to have different fee values within the available range (Min value, Max value). The fee value is used as the default for every loan created by a Customer. |
Who can edit the fee:
| If "Use variable fee value" is enabled, it is possible to choose who will be permitted to edit the fee value. | |
Fee value |
| This value is used as the Commission Rate for all loans created using this Credit Product. |
Accrual mode |
| Choose a suitable accrual mode. |
Loan phase |
| Define the loan phase(s) applicable if Grace Period is defined for the Credit Product. |
Payoff settings General: by date |
| Define which part of currently accrued but unpaid amount shall oblige in case of payoff. |
Payoff settings General: future |
| Define which part of currently scheduled but not yet accrued amount shall oblige in case of payoff. |
Disbursement Fee
The disbursement fee is charged each time funds are disbursed to the Customer. It can be set as a fixed amount or a percentage of the disbursed loan amount. This fee is deducted from the total loan amount upon disbursement, and the remaining funds are transferred to the Customer, in particular for multiple disbursements, this fee is applied every time, to every disbursement.
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Periodicity: Disbursement fees are applied and immediately paid as soon as a loan is disbursed, regardless of their priority in the fees list.
Included in APR calculation: Yes
Multiple fees allowed: Yes
Applicable in loan restructuring: Yes
Disbursement Fee Settings
Field name | Parameters | Description |
|---|---|---|
Name | Disbursement fee | Full fee name |
Calculation basis |
| Define the fee base if the fee is set as a percent or rate. If a fee value is "Amount", the calculation basis is unavailable. |
Fee value |
| This value is used as the Commission Rate for all loans created using this Credit Product. |
Down Payment
The down payment is a portion of the purchase price that the Customer pays upfront. This amount is deducted from the loan amount to reduce the principal that needs to be financed. The down payment is typically required before the loan disbursement.
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Periodicity: One-time fees, when the payment transaction is done by the Customer before disbursement.
Included in APR calculation: Yes
Multiple fees allowed: No
Applicable in loan restructuring: No
Down Payment Settings
Field name | Parameters | Description |
|---|---|---|
Name | Down payment | Full fee name |
Calculation basis |
| Define the fee base if the fee is set as a percent or rate. If a fee value is "Amount", the calculation basis is unavailable. |
Fee value |
| This value is used as the Commission Rate for all loans created using this Credit Product. |
Use variable fee value |
| Allows different loans based on this credit product to have different fee values within the available range (Min value, Max value). The fee value is used as the default for every loan created by a Customer. |
Who can edit the fee:
| If "Use variable fee value" is enabled, it is possible to choose who will be permitted to edit the fee value. |
Late Fee
The late fee is a penalty charged when a Customer fails to make a loan payment by the due date. This fee can be a fixed amount or a percentage of the overdue payment and serves as an incentive for Customers to make timely payments and compensates the Lender for the inconvenience and potential risk of late payments. The fee is charged each time an installment becomes the defined number of days late.
For example, If a Customer misses a monthly payment of $500 and the late fee is set at $25 or 5% of the overdue amount, the Customer would incur an additional charge of $25 or $25 (5% of $500). If the Customer fails to pay the next installment, the fee will be applied again in the same manner.
Periodicity: Late Fees are applied to loan installment as soon as this installment's DPD value becomes equal to the DPD value specified in a late fee rule.
Included in APR calculation: No
Multiple fees allowed: Yes
Applicable in loan restructuring: Yes
Late Fee Settings
Field name | Parameters | Description |
|---|---|---|
Name | Late fee | Full fee name |
Calculation basis |
| Define the fee base if the fee is set as a percent or rate. If a fee value is "Amount", the calculation basis is unavailable. |
Installment past due |
| The day when the fee is applied (e.g. on the 5th day past due). |
Fee value |
| This value is used as the Commission Rate for all loans created using this Credit Product. |
Loan phase |
| Define the loan phase(s) applicable if Grace Period is defined for the Credit Product. |
Leasing Payment
The leasing payment is applicable when the loan type is designated as "Leasing." While it is generally expected that only one leasing payment is added to the credit product, multiple leasing payments can be configured if it aligns with your business requirements.
For example, if a company finances a piece of equipment through a leasing loan of $50,000, the leasing payment might be set at 2% of the loan amount, resulting in a $1,000 leasing payment. Alternatively, a fixed leasing payment of $1,500 might be applied regardless of the loan amount.
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Periodicity: For each payment transaction.
Included in APR calculation: No
Multiple fees allowed: Yes
Applicable in loan restructuring: Yes
Leasing Payment Settings
Field name | Parameters | Description | ||||||
|---|---|---|---|---|---|---|---|---|
Name | Leasing Payment | Full fee name | ||||||
Calculation basis |
| Define the fee base if the fee is set as a percent or rate. If a fee value is "Amount", the calculation basis is unavailable. | ||||||
Fee value |
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| This value is used as the Commission Rate for all loans created using this Credit Product. | ||||
Loan phase |
| Define the loan phase(s) applicable if Grace Period is defined for the Credit Product. | ||||||
Payoff settings General: by date |
| Define which part of currently accrued but unpaid amount shall oblige in case of payoff. | ||||||
Payoff settings General: future |
| Define which part of currently scheduled but not yet accrued amount shall oblige in case of payoffsettings General: future |
| Define which part of currently scheduled but not yet accrued amount shall oblige in case of payoff. | ||||
Manual Fee
The manual fee is an ad-hoc charge that can be added by the Lender at any point in time. This fee is applied on the day it is created and is assigned to the current installment of the loan. It allows for flexibility in managing unexpected or additional costs that may arise during the loan term.
For example, if on the 10th day of the month the Customer incurs an additional service charge of $50, the Lender can add a manual fee of $50 to the current installment. If the current installment is due on the 15th of the month, the manual fee will be accrued on the 10th and expected to be paid on the 15th - as a part of the total amount due for that installment.
Periodicity: When charged
Included in APR calculation: No
Multiple fees allowed: Yes
Applicable in loan restructuring: Yes
Manual Fee Settings
Manual fee is always defined as an amount. The best practice is to make it a variable amount.
NSF
The NSF fee is applied when a Customer’s payment fails due to insufficient funds in their account. This fee compensates the Lender for the costs associated with handling the failed transaction and encourages Customers to ensure sufficient funds are available for their payments.
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Periodicity: NSF charges apply once a monthly payment from a Customer does not go through.
Included in APR calculation: No
Multiple fees allowed: Yes
Applicable in loan restructuring: Yes
NSF Settings
Field name | Parameters | Description |
|---|---|---|
Name | NSF | Full fee name |
Fee value |
| This value is used as the Commission Rate for all loans created using this Credit Product. |
Accrual mode |
| Choose a suitable accrual mode. |
Loan phase |
| Define the loan phase(s) applicable if Grace Period is defined for the Credit Product. |
Origination Fee
The origination fee is a one-time fee charged at the inception of the loan to cover the costs of processing the loan application and initiating the loan. This fee is included in the first installment.
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Periodicity: A one-time fee applied to loans to cover the price of origination.
Included in APR calculation: Yes
Multiple fees allowed: Yes
Applicable in loan restructuring: Yes
Origination Fee Settings
Field name | Parameters | Description |
|---|---|---|
Name | Origination fee | Full fee name |
Calculation basis |
| Define the fee base if the fee is set as a percent or rate. If a fee value is "Amount", the calculation basis is unavailable. |
Fee value |
| This value is used as the Commission Rate for all loans created using this Credit Product |
Loan phase |
| Define the loan phase(s) applicable if Grace Period is defined for the Credit Product. |
Payoff settings General: by date |
| Define which part of currently accrued but unpaid amount shall oblige in case of payoff |
Payoff settings General: future |
| Define which part of currently scheduled but not yet accrued amount shall oblige in case of payoff |
Past Due Interest
Past due interest is the additional interest charged on overdue loan payments. This fee accrues daily/ weekly/monthly/ yearly (subject to the settings) as a percentage based on the outstanding principal or total debt and is intended to compensate the Lender for the delay in receiving scheduled payments.
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Periodicity: A one-time fee applied to loans to cover the price of origination.
Included in APR calculation: Yes
Multiple fees allowed: Yes
Applicable in loan restructuring: Yes
Past Due Interest Settings
Field name | Parameters | Description |
|---|---|---|
Name | Past due interest | Full fee name |
Calculation basis |
| Define the fee base if the fee is set as a percent or rate. If a fee value is "Amount", the calculation basis is unavailable. |
Fee value | Percent ( by default) per:
| This value is used as the Commission Rate for all loans created using this Credit Product. |
Loan phase |
| Define the loan phase(s) applicable if Grace Period is defined for the Credit Product. |
Payment Holiday Interest Fee
The payment holiday interest fee is an additional charge applied when a payment holiday is granted. During a payment holiday, the regular loan payments are paused, but interest continues to accrue. The additional interest can be calculated daily, weekly, monthly, or yearly, based on the commission settings.
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Periodicity: Applied as long a Payment holiday is applied.
Included in APR calculation: No
Multiple fees allowed: Yes
Applicable in loan restructuring: Yes
Payment Holiday Interest Fee Settings
Field name | Parameters | Description |
|---|---|---|
Name | Payment holiday interest fee | Full fee name |
Calculation basis |
| Define the fee base if the fee is set as a percentage rate. |
Fee value | Percent ( by default) per:
| This value is used as the Commission Rate for all loans created using this Credit Product. |
Loan phase |
| Define the loan phase(s) applicable if Grace Period is defined for the Credit Product. |
Payoff Fee
The payoff fee is a one-time fee charged when a Customer repays the loan in full before the scheduled end date. This fee can be a fixed amount or a percentage of the remaining balance and compensates the Lender for the loss of expected interest. It will be applied along with the sum of all fees that are assigned an Event Type 'On payoff' in the Credit Product.
For example, if a Customer decides to pay off the remaining $5,000 balance of a loan early and the payoff fee is 2%, the Customer would need to pay an additional $100.
Periodicity: A one-time fee applied when the loan is paid off ahead of the schedule.
Included in APR calculation: No
Multiple fees allowed: Yes
Applicable in loan restructuring: Yes
Payoff Fee Settings
Field name | Parameters | Description |
|---|---|---|
Name | Payoff fee | Full fee name |
Calculation basis | Outstanding principal | The fee base if the fee is set as a percent or rate. If a fee value is "Amount", the calculation basis is unavailable. |
Fee value |
| This value is used as the Commission Rate for all loans created using this Credit Product. |
Loan phase |
| Define the loan phase(s) applicable if Grace Period is defined for the Credit Product. |
Pre-Approval Fee
The pre-approval fee is charged to the Customer before the loan application is processed and approved. This fee covers the initial evaluation and administrative costs associated with the loan application process.
A ‘zero'-installment will be added to the schedule.
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Periodicity: A one-time fee applied when the loan is paid off ahead of the schedule.
Included in APR calculation: Yes
Multiple fees allowed: No
Applicable in loan restructuring: Yes
Pre-Approval Fee Settings
Field name | Parameters | Description |
|---|---|---|
Name | Pre-approval fee | Full fee name |
Fee value | Amount | This value is used as the Commission Rate for all loans created using this Credit Product. |
Pre-Disbursement Fee
The pre-disbursement fee is a fee charged once the loan is approved but before the funds are disbursed. This fee must be paid by the Customer to activate the loan disbursement process.
A ‘zero'-installment will be added to the schedule.
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Periodicity: A one-time fee applied to loans that should be distributed while the loan has a status 'Pending initial payments' (Before disbursement).
Included in APR calculation: No
Multiple fees allowed: Yes
Applicable in loan restructuring: No
Pre-Disbursement Fee Settings
Field name | Parameters | Description |
|---|---|---|
Name | Pre-disbursement fee | Full fee name |
Calculation basis | Loan amount | The fee base if the fee is set as a percent or rate. If a fee value is "Amount", the calculation basis is unavailable. |
Fee value |
| This value is used as the Commission Rate for all loans created using this Credit Product. |
Use variable fee value |
| Allows different loans based on this credit product to have different fee values within the available range (Min value, Max value). The fee value is used as the default for every loan created by a Customer. |
Who can edit the fee:
| If "Use variable fee value" is enabled, it is possible to choose who will be permitted to edit the fee value. |
Repayment Fee
The repayment fee is charged each time a payment is made towards the loan. This fee can be a fixed amount or a percentage of the repayment amount and is deducted from the payment received before applying the remainder to the loan balance.
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Periodicity: For each payment transaction.
Included in APR calculation: No
Multiple fees allowed: Yes
Applicable in loan restructuring: No
Repayment Fee Settings
Field name | Parameters | Description |
|---|---|---|
Name | Repayment fee | Full fee name |
Calculation basis |
| Define the fee base if the fee is set as a percent or rate. If a fee value is "Amount", the calculation basis is unavailable. |
Fee value |
| This value is used as the Commission Rate for all loans created using this Credit Product. |
Loan phase |
| Define the loan phase(s) applicable if Grace Period is defined for the Credit Product. |
Note! When the repayment fee is calculated as a percentage, the base amount used for the calculation does not include the Sales Tax fee. |
Sales Tax
The sales tax is applied as a percentage of the paid principal and can be set as a constant value or within predefined fee ranges. This fee is used to calculate the amount of tax based on the principal portion of the loan repayment.
The specified amount is counted towards the loan repayment with other fees added to it (including the Repayment Fee) and when the Sales Tax fee is deducted from the specified amount, the remainder is counted towards loan repayment.
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Field name | Parameters | Description |
|---|---|---|
Name | Sales tax | Full fee name |
Calculation basis | Paid principal | Define the fee base if the fee is set as a percent or rate. If a fee value is "Amount", the calculation basis is unavailable. |
Fee value |
| This value is used as the Commission Rate for all loans created using this Credit Product |
Use variable fee value |
| Allows different loans based on this credit product to have different fee values within the available range (Min value, Max value). The fee value is used as the default for every loan created by a Customer. |
Who can edit the fee:
| If "Use variable fee value" is enabled, it is possible to choose who will be permitted to edit the fee value. | |
Loan phase |
| Define the loan phase(s) applicable if Grace Period is defined for the Credit Product. |
Add fee cap | Who can edit the fee:
| If "add fee cap" is enabled, it is possible to choose who will be permitted to edit the fee value. |
Value type - Amount(by default) Value - $ | Fill in the value. |
How to manage repayment priority
After setting commissions accruals order can be changed.
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