Repayment API parameters Table
| Parameter Name | Required | Format | Comment |
|---|---|---|---|
| amount | Yes | Decimal | The total amount which was paid by the customer. |
| payment_mode | Yes | 1: Razorpay 3: Nach 4: Cheque 5: Neft or IMPS to bank account 6: Cash 7: Paytm 8: Pre deducted 10: Cashfree 11: UPI 12: Ex Gratia 13. Mobikwik 14. BillDesk 15. PayU 16. ECollect 17. Waived 18. Write Off 19. EMandate 20. Other Payment Gateway 21: Others Note that integer codes should be passed in the API request. | This is the mode from which the payment was done. |
| payment_date | Yes | Date format: DD-MMM-YYYY For e.g. 1 Jan 2019 should be passed as “01-Jan-2019” | On which date the payment was done. |
| payment_id | Yes | This should be the identifier from which the payment can be independently verified. | For payment gateways, this should be the id which the PG provider gives. For NACH it should be the LAN no. For cash deposits, it should be identification number which shows up in the bank account. |
| allocation | Yes | Array of JSON of allocations. Details here. | How the total amount paid by the customer is allocated to different heads. |
| payment_account | No | Payment Account Name | If you use multiple accounts, then payments to non default accounts should be passed. |
| is_foreclosure | Optional | Boolean field. Used for loans to be foreclosed. Allocations are created for Principal outstanding + Accrued interest + Foreclosure charges + foreclosure tax with the payment done here. Loan status gets changed to "Foreclosure". | Loan foreclosure is the full repayment of the remaining loan amount in a single payment instead of paying it back in multiple EMIs. In this way, borrowers can save future interest by paying a lump sum amount at a time along with foreclosure charges. |
| is_cancelled | Optional | Boolean field. Used for loans to be cancelled. Allocations are created for Principal outstanding + Accrued interest with the payment done here. Loan status gets changed to "Cancelled". | |
| is_settled | Optional | Boolean field. Use this to settle a loan. Loan status gets changed to "Settled". | |
| is_closed | Optional | Boolean field. Use this to close a loan by waiving off remaining outstanding amount. Mostly used to close loans where a very small amount like 1rs or 2rs is outstanding for a long time. Loan status gets changed to "Fully Repaid With Short Amount". | |
| bureau_date | Optional | Date format - DD-MMM-YYYY. For e.g. 1 Jan 2019 should be passed as "01-Jan-2019" | In case bureau reporting is to be done with payments being considered not on payment date. This should be passed. |