Table of content
Overview
The loan deposit service APIs provide a comprehensive set of interfaces to automate and manage the lifecycle of unsecured loans. This API suite enables institutions to create, track, review, and settle unsecured loan accounts with high efficiency and transparency. It supports seamless integration into core banking systems and digital channels, enabling both customer self-service and internal operational automation.
Why use these APIs?
- End-to-end loan automation: Streamline the entire loan journey—from creation and disbursement to tracking and settlement—reducing manual workload and processing time.
- Real-time visibility: Stay updated on the status of loan creation, disbursement, and fee posting in real-time, empowering staff and customers alike.
- Accurate accounting: Automatically post and track fees, loan amounts, and repayments to ensure financial accuracy and compliance.
- Improved customer experience: Customers benefit from faster loan processing, real-time updates, and access to loan information without needing to contact the bank.
- Operational efficiency: Reduce support tickets and manual tasks with self-service tools and automated calculations.
- Transparency & error handling: API responses include detailed status and error messages to facilitate monitoring and troubleshooting.
Key features
1. Loan creation & tracking
POST /create-unsecured-loan: Automates the unsecured loan creation process by:- Creating an unsecured loan with provided loan details and borrower information.
- Generating a repayment schedule.
- Disbursing funds to the customer’s account.
- Posting any relevant fees.
- Tracking the loan creation process via the reference ID provided by the front-end channel.
POST /query-ld-api: Enables tracking of loan creation progress by:- Querying loan creation status using the reference ID.
- Providing LD code, disbursed amount, and fee status.
- Returning clear error messages in case of processing issues.
2. Statement & loan details inquiry
POST /inquiry-ld-statement: Retrieves historical and current loan statements:- Includes transaction history, payments made, incurred fees, and outstanding balances.
- Allows selection by time periods (monthly, quarterly, or custom).
- Supports both customers and internal bank users.
POST /get-ld-payment-info: Provides total outstanding amount due as of today.
3. Early repayment settlement
POST /early-payment-ld: Settle a loan before its maturity date.POST /result-early-pay-ld: Retrieves the outcome of an early payment settlement.
