Overview

The Fees and Interest tab provides a detailed, view-only breakdown of all financial costs associated with the loan. This screen is designed for reference, allowing you to see the current calculated totals for interest and fees, including any default charges, and compare them against the original values agreed upon when the contract was signed.

Navigation

1. Navigate to Client Administration and Search for Existing Client.
2. Select the desired client and click the Loans button.
3. From the list, select the specific loan you wish to view.
4. Click the Edit Loan button.
5. Select the Fees and Interest tab.

Understanding the Fee and Interest Details

The information is grouped into sections representing the current calculated values and the original agreed values.

INTEREST (Current Values)

• Interest Amount: Displays the current, up-to-date total of all interest calculated on the loan.
• In Default Interest Amount: Displays the total interest that has been charged specifically as a result of the account being in default.

FEES (Current Values)

• Initiation Fee: The initiation fee amount, excluding VAT. (RSA only)
• Total Initiation Fee: The initiation fee amount, including VAT. (RSA only)
• Monthly Service Fees: The total of all monthly service fees charged to date, excluding VAT. (RSA only)
• Total Monthly Service Fees: The total of all monthly service fees charged to date, including VAT. (RSA only)
• In Default Monthly Service Fee Amount: The total value of monthly service fees charged while the account was in default, excluding VAT.
• Total in Default Monthly Service Fee Amount: The total value of monthly service fees charged while the account was in default, including VAT.
• Charge First Monthly Service Fee: Indicates if the option to charge the service fee in the first month was selected (Yes/No).
• Charge Pro Rata First Monthly Service Fee: Indicates if the first month's service fee was charged on a pro-rata basis (Yes/No).
• Charge Pro Rata Final Monthly Service Fee: Indicates if the final month's service fee was set to be charged on a pro-rata basis (Yes/No).

AGREED VALUES (Original Contract Values)

This section displays the original fee and interest amounts as captured in the signed loan agreement, for comparison purposes.

• Interest Amount: The total interest amount as agreed upon at the inception of the loan.
• Initiation Fee / Total Initiation Fee: The original initiation fee agreed upon, excluding and including VAT. (RSA only)
• Monthly Service Fee / Total Monthly Service Fee: The original monthly service fee agreed upon, excluding and including VAT. (RSA only)

Available Actions

• Print documentation: Click this button to generate and print the original loan documents as they were when the loan was first created.
• Close: Click this button to return to the previous screen (the loan list).