This is very popular deposit scheme, gold Marchant collects every months collection it will be monthly, weekly installments. They provide grace installment, and whatever amount collected gold can be purchased from that amount.
Installment of 5k every month which will be collected for 12 months and in return Marchant will provide 13 or 14 months worth gold, Search customer click on deposit enter amount per installment keep ROI 0 months 12 tenure. Total 60k. Click on save button. Deposit 616 is created successfully.
System will show due amount in yellow color, received amount will reflect in green color, and partial received amount will be reflect in orange color. You can enter amount and click on receive option then amount will get collected and reflect in installment tracker and transaction also. Member also can see details of payment he has done in his/her login through our mobile app. Important part is collection, in the system you can apply E- Mandate to deduct monthly installment amount from Members account to Marchant account.
The second option is that generate QR CODE and that QR CODE Marchant can give to the borrower to make payment online. When this borrower scan the QR CODE it will automatically show loan number due amount with remark and once payment done it will be reflected in that member loan account. This option no banking no payment service charges . Where as for E-NACH service required integration charge and on going transaction charge.
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