This option is used to create loan name, which could be selected while adding new loan records. Follow the below steps to create a loan name.
Path in Paybooks 2.0: Go to Transactions section >> under Loan >> click on Loan Master
Path in Paybooks 1.0: Go to Configure menu >> Master >> click on Loan Name
Ø Enter the Loan Name and Abbreviation of the loan
Ø Select the loan type from the Map To drop down list
Ø Enter Applicable Interest Rate and select Is Active
Based on entered Applicable Interest Rate, system calculates Loan Perquisite.
And click on Save button to see the loan name in the grid list.