SM-983
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Early repayment OD - before 60th day
Done
Epic:
SM-960
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Repay an overdraft before 60th day
Done
Priority: as per Jira
Effort estimate: as per Jira
Review status: ready to review
Role: client
Objective: to repay the outstanding, delayed overdraft loan after a grace period but before the 60th day
Reason: so clients can repay the delayed debt before the due date (60th day)
Functional requirements: pls see the technical documentation here Loans Technical documentation
UI requirements:
Client should be warned that the debt is already due.
Client should be aware that the best if he/she early repays it asap, as the later he/she repays the more his/her credit score declines.
Client should be aware that other loans are not accessible due to his delayed OD loan.
Process flow:
#3 at the workflow diagram: Overdraft Technical documentation
Comments
This user story excludes the step “Block Personal loan and BNPL offerings”, that is covered here: Lock PL and BNPL if user is delayed w/ OD
If the customer doesn't have a balance even to cover the fee, it’s posted as a sort-of ‘pending’ payment against his account. This is a general solution for all other fees in the App. Covered here https://safibank.atlassian.net/wiki/spaces/ITArch/pages/edit-v2/72417361 and here Auto deduct OD loan on due date (30, 60 day)
Execution steps:
pls see the technical documentation here Loans Technical documentation
Internal dependencies:
Intrabank payment from users' accounts to the bank’s technical account
Posting fee as pending payment against the main account if no balance is available: https://safibank.atlassian.net/wiki/spaces/ITArch/pages/edit-v2/72417361
External dependencies:
n/a
Alternative scenarios:
The client manually creates a transfer to the bank’s internal technical account, adds the LoanID to the comment field of the transactions and BO should manually match it with the OD.
Acceptance criteria:
The early repayment buttons (Overdraft center, Payment calendar’s specific upcoming payment item) are always accessible
Only the full outstanding loan amount can be manually repaid, no partial repayment is available
As the fee is autodeducted (if enough balance on the main account), the manual repayment will always be the loan amount only.
Fee is autodeducted, if balance is available. Otherwise, posted against the main account and waiting for incoming funds.
Client can select multiple accounts to repay from
Client can only select a non-locked subaccount to repay from
The balances of accounts (used for repayment) are in line with the balance shown in other parts of the app
Client is notified about the successful repayment
Client is redirected to Loans Overview screen once OD repayment is done
Links to wireframes/UI: https://www.figma.com/file/0LEEFZgkUnPkPTkY9PMREt/SaFi---WF-%26-UI-(Shared)