Hire purchase using transaction manager

[former_member377061]

Dear all,

How can i utilize transaction manager for hire purchase loan. What would be the best product type that i can utilize?

Appreciate it if any links are available for reading.

Thanks in advance.

[former_member377061]

Hi,

Thanks again for your reply.

The interest is calculated as the following:

Loan taken from bank 100k and rate is 2.5% pa and paid installment for 3 years.

Therefor the interest paid 2.5% of 100k = RM 2500 pa x 3 years = RM 7500

Thank you.

Regards.

[former_member377061]

Hi MAhesh,

Thank you so much for your reply.

The hire purchase is for the motor vehicle purchases. So we individual accounts by motor vehicle registration number which is then paid to the bank. The interest rate is different for each accounts. We need to split the principal repayment and the interest accordingly.

I would really appreciate your input.

Thank you so much.

Regards.

[Former Member]

Hi ,

As per the requirement mentioned created Financail transaction ( Creation of individual contract ) for each of the registration number mentioned using the interest rate instrument product type , kindly provide how the principal repayment is calculated , based on which we can conculde whether the requirement can be catered by the Interest rate instrument or by Using loans management in SAP banking

[Former Member]

HI,

Based on the requirement , i Think you can use the Interest rate instrument products in money market for Hire purchase , since it the repayment type can be taken as installment payment , please provide business process for better solution