Products and borrowers
hayaterp.com ↗Set up Hayat Lending — loan products (personal, business, gold, microfinance group, consumer / BNPL, murabaha, ijarah) with amount and tenor ranges, weekly, fortnightly or monthly instalments, flat, reducing-balance or profit rates, fees, penalties, settlement fee, collateral, LTV, guarantors and group rules; the schedule maths with worked examples; borrowers with national ID, income and KYC documents; KYC decisions; and borrower groups for microfinance.
Products say on what terms you lend; borrowers are the people and businesses you lend to; groups tie microfinance borrowers together. Products need lending.approve; borrowers, documents and groups need lending.originate; the KYC decision needs lending.approve.
Loan products
Loan products → + Product:
| Field | Fill |
|---|---|
| Code, Name | e.g. MF-GRP, Microfinance group loan |
| Kind | Personal, Business, Gold, Microfinance group, Consumer, Murabaha, Ijarah or Other |
| Method | Flat — the charge on the full amount for the whole tenor; Reducing — interest on the balance still owed (equal instalments); Flat profit — like flat, but called profit (murabaha and ijarah are always this) |
| Min / Max amount, Min / Max tenor | The ranges an application must fall in; tenor in instalments |
| Frequency | Weekly, Fortnightly or Monthly |
| Annual rate % | Interest or profit per year |
| Upfront fee % and amount, Fee mode | Deduct from disbursement (the borrower gets less), Add to first instalment, or Spread over instalments |
| Fee per instalment | A fixed fee added to every instalment |
| Penalty, Penalty rate, grace days, Cap % of instalment | None, % per day of what is overdue, a fixed amount per day, or once; from the due date + grace days; capped at a share of the instalment (0 = no cap) |
| Settlement fee % | Of the principal left, on early settlement |
| Collateral required, Max LTV % | Collateral value must cover the loan within this loan-to-value |
| Guarantors required | 0 to 5 |
| Borrower must be in a group | For group lending |
Murabaha and ijarah products (and any Flat profit product) are Islamic: the schedule says Profit, the income goes to Profit on Islamic Financing, and late penalties go to charity (if that setting is on).
The preview beside the form shows the full schedule for any amount and tenor before you save. Preview on the list does the same for an existing product.
How the schedule is worked out
Each row of the schedule has its due date, principal, interest (or profit), fee, total and the balance left. Due dates fall one period apart from the first due date (one period after disbursement by default); monthly dates keep the same day, moved to the month's end when needed. Instalments are rounded to the Instalment rounding step, and the last instalment takes whatever is left — so the totals are always exact.
Flat, 100,000 at 24 % a year, 12 monthly instalments
| Principal | Interest | Total | |
|---|---|---|---|
| Total interest = 100,000 × 24 % × 12 ÷ 12 | 24,000.00 | ||
| Rows 1–11 | 8,333.33 | 2,000.00 | 10,333.33 |
| Row 12 | 8,333.37 | 2,000.00 | 10,333.37 |
| Total | 100,000.00 | 24,000.00 | 124,000.00 |
Reducing balance, 100,000 at 24 % a year, 12 monthly (2 % a month)
| Row | Interest | Principal | Total | Balance |
|---|---|---|---|---|
| 1 | 2,000.00 | 7,455.96 | 9,455.96 | 92,544.04 |
| 2 | 1,850.88 | 7,605.08 | 9,455.96 | 84,938.96 |
| … | ||||
| 12 | 185.41 | 9,270.56 | 9,455.97 | 0.00 |
Total interest 13,471.53 — much less than flat at the same rate, because interest is charged only on what is still owed.
Murabaha, 250,000 at 18 % profit a year, 24 monthly, rounded to 1: profit 250,000 × 18 % × 2 = 90,000; instalment 340,000 ÷ 24 = 14,166.67 → 14,167 (profit 3,750 + principal 10,417); the 24th instalment is 14,159.
Borrowers and KYC
Borrowers → + Borrower:
| Field | Fill |
|---|---|
| Kind | Individual or Business |
| Name, Father / husband name | |
| National ID (CNIC), Phone, Email | Stored encrypted; a national ID can belong to only one borrower |
| Date of birth, Gender, Address, City | |
| Occupation, Employer / for a business: registration no., contact person | |
| Income: monthly income, other monthly obligations, dependents, source | Used for the debt-burden ratio in the credit score |
| Group and role, Officer |
Search finds borrowers by number or name, or by the exact national ID or phone. The borrower page shows the profile, the KYC status, the documents, the applications and the loans with what is owed and days past due.
KYC documents: + Document, choose the type — National ID, Photo, Income proof, Bank statement, Business proof, Collateral proof, Guarantor ID, Agreement or Other — and a title, Save, then upload the file (PDF, JPG, PNG or WebP, up to 10 MB). Files are kept privately and open only through Hayat for staff who may see that borrower. A user with lending.approve can Verify a document or delete it.
KYC decision (lending.approve): set the status to Verified (needs a national ID) or Rejected, add notes, Save KYC decision. A loan can be submitted only for a verified borrower.
Borrower groups
For group lending, Borrower groups → + Group: code, name, center (village or area), meeting day and the officer. On the group page add members with their role — Member, Leader or Secretary — or remove one (not while they have a running group loan).
The group page shows each member's loans, outstanding principal, overdue amount and days past due, and the group's totals and members in arrears — what the officer needs at the weekly meeting. A product with Borrower must be in a group accepts only members.