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Loan Term and Payment Frequency

Navigation:  Loans > Loan Screens > Account Information Screen Group > Account Detail Screen > Account tab > Payment and Classification field group > Payment Method 0: Conventional Loans >

Loan Term and Payment Frequency

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Conventional loans (payment method 0) tend to have longer terms than interest-bearing (payment method 6) or precomputed (payment method 3) loans. It’s not unusual for conventional loan terms to be 360 months (30 years).

 

The only Payment Frequency allowed for conventional loans is "1 – Monthly" and you cannot change the frequency on the Loans > Account Information > Payment Information screen.

 

 

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