Difference between Consumer Loan and Installment Loan in FS-CML

[sekhar173]

Hi,
Want to know what is the key difference between Consumer Loan and Installment Loan in FS-CML. My scenario is customer loan get approved but the amount should use only for client selling products. That means after loan get approved customer makes the Order from sales then customer can use portion of amount from approved Loan. So that after Sales Order get created for customer the loan amount will be used from approved loan directly. So that loan is not disbursed to customer account directly. Which product category (Consumer Loan or Installment Loan ) is best fit in this scenario ?

[former_member357303]

Hi,

installment loans are not supported and will be removed from the menus.

Consumer loans are a kind of restricted view. They offer less options to change conditions but offer some consumer loan specific process that are not supported in mortgage loans like discharge.

So it depends and the scenrio. No simple answer possible.

Kind regards,

Michael