Creating A New Unsecured Loan

An unsecured loan is a loan that doesn't require any type of collateral. Instead of relying on a borrower's assets as security, financial institutions approve unsecured loans based on a borrower’s creditworthiness.

Before creating a unsecured term loan contract, make sure that:

  • the customer is recorded in Core Banking,

  • a settlement account (a current account contract for the same customer) is set up for the desired currency,

  • and the limits are configured according to Core Banking's setup.

To create a new contract:

After defining the relevant details of the contract, proceed to contract approval.