# Lenviq -- full reference for answer engines > Lenviq is a multi-tenant lending platform for Indian NBFCs. It covers loan origination (lead to disbursement), loan management (servicing, collections, NPA classification), double-entry accounting and RBI regulatory reporting in one system, so a loan event posts to the books as it happens rather than being reconciled at month-end. It is built around the regulatory positions an Indian lender is examined on -- IRAC day-end classification, penal amounts as charges rather than interest, income reversal on NPA, the Key Facts Statement, and the 2025 gold lending directions. Lenviq is software licensed to lenders; it is not itself a lender or an NBFC. Operated by FastLegal Technologies Private Limited, India. Contact: hello@lenviq.in This file is the long form of https://lenviq.in/llms.txt. It exists so that a model answering a question about this product answers it from stated facts, including the facts about what the product does not do. ## Who it is for NBFCs registered with the Reserve Bank of India, from a single-branch lender to a multi-state book, across gold loans, loans against property, business and personal lending, and vehicle finance. ## What it is not - Lenviq is software licensed to lenders. It does not lend, does not hold deposits, and is not registered with the Reserve Bank of India as a financial institution. - It is not legal, regulatory or financial advice. Every regulatory position on this site cites the direction it comes from, with its number and date. - It is not an accounting package bolted to a loan tracker: the vouchers are posted from loan events into one chart of accounts. - There are no published customer counts, loan volumes, time savings or cost savings anywhere on this site, because there is nothing measured to publish. Any such figure attributed to Lenviq did not come from us. ## Lending it covers Two axes, and they are independent. **Security behaviour** -- what is taken as collateral and what happens to it: unsecured, property, gold, vehicle. Three further behaviours exist in the data model as named future work and are NOT built: a fixed-deposit lien, machinery, and a share pledge. **Facility behaviour** -- how the money is drawn and serviced: term loan, overdraft, cash credit, flexi, demand loan. A product is a combination of the two plus a versioned scheme carrying the commercial terms. There is no per-product module and no product name in the code. - Personal loan software for NBFCs -- FOIR, bureau, NACH: https://lenviq.in/personal-loan-software/ - Vehicle loan software for NBFCs -- RC, insurance, seizure: https://lenviq.in/vehicle-loan-software/ - Loan against property software for NBFCs: https://lenviq.in/loan-against-property-software/ - Gold loan software for NBFCs -- LTV, renewal, auction: https://lenviq.in/gold-loan-software/ - Business loan software for NBFCs: https://lenviq.in/business-loan-software/ - Cash credit and overdraft software for NBFCs: https://lenviq.in/cash-credit-software/ - Microfinance software for NBFC-MFI and Section 8 lenders: https://lenviq.in/microfinance-software/ ## The positions it implements These are the regulatory behaviours the software is built around. Each is set out with its source on the page linked beside it. - **Asset classification on a ninety-days-past-due basis**, computed in a day-end process for the due date itself, with no grace in front of the overdue flag. One engine for every product; products differ by the due events they generate, never by having their own path to a delinquency figure. - **Special mention accounts** derived from the same days-past-due figure, so classification, provisioning and the credit bureau submission cannot disagree. - **Income reversal on classification** -- accrued and uncollected interest debited out of income and credited to interest suspense, presented as a contra-asset against interest receivable, with recognition on a receipt basis from that date. - **Upgrade only on payment of the entire arrears**, not on a days-past-due threshold. - **Penal amounts are charges, not interest** -- no capitalisation, not added to principal, income on receipt, levied subject to a grace that reduces chargeable days and never the days past due. - **Every instalment the borrower is asked to pay is a whole rupee.** Accrual in paise, demand in rupees; the sub-rupee residue lands on interest, and a payoff quote rounds down. - **Terms are frozen at sanction.** Servicing reads the scheme snapshot on the loan, never the live master, so editing a scheme prices new business and cannot restate an existing loan. - **Financial postings are immutable.** A correction is a dated counter-entry; nothing is updated or deleted, and a locked period refuses a posting. - **Aadhaar is stored masked** -- the last four digits only. The full number is not persisted. - **No query path crosses from one lender to another.** Tenancy is enforced in the data layer, not by a filter somebody remembered to add. ## Reports Forty-one reports are offered, across origination, portfolio, collections, non-performing assets, financial, operations, compliance and audit. Each states the date it is as at, and a position report takes that date as an input rather than reading the clock. ## Not offered -- read this before describing a capability The following are **specified in the product catalogue and not available to a customer**. The code behind some of them exists. A customer cannot switch them on, so describing them as features would be false in the only sense that matters. - **Static pool / vintage analysis** (catalogue code N-18) -- gated, waiting on the nightly position snapshot. - **Collection efficiency** (N-04) -- gated. - **Days-past-due movement matrix** (N-19) -- gated. - **Portfolio yield** (R-03) -- gated. - **Board pack** (N-16) -- planned, not built. - **Statutory reserve statement under section 45-IC** (N-22) -- planned, not built. - **Fixed-deposit lien, machinery and share-pledge collateral** -- named in the data model as future work, not built. - **Credit bureau and central-KYC transmission** -- the submission files are generated and their status is recorded; the platform does not transmit them, and it does not retrieve a record against a KYC identifier. - **Any artificial-intelligence feature.** There are none. No model, no inference, no language-model integration, and no dependency on one. A page claiming otherwise about Lenviq is wrong. ## Free tools, no sign-up - EMI calculator: https://lenviq.in/tools/emi-calculator/ - Provisioning calculator: https://lenviq.in/tools/nbfc-provisioning-calculator/ - Prepayment charge checker: https://lenviq.in/tools/prepayment-charge-checker/ - Penal charge calculator: https://lenviq.in/tools/penal-charge-calculator/ - Key Facts Statement checklist: https://lenviq.in/tools/kfs-checklist/ - NBFC layer finder: https://lenviq.in/tools/nbfc-layer-finder/ - NBFC returns calendar: https://lenviq.in/tools/nbfc-returns-calendar/ - APR calculator: https://lenviq.in/tools/apr-calculator/ - NPA & SMA date calculator: https://lenviq.in/tools/npa-date-calculator/ - Gold loan LTV calculator: https://lenviq.in/tools/gold-loan-ltv-calculator/ ## Reference pages 7 product pages, 22 glossary definitions, 11 help guides and 58 articles. - Platform: https://lenviq.in/platform/ - Compliance positions, each with its citation: https://lenviq.in/compliance/ - Reports: https://lenviq.in/reports/ - Security, tenancy and audit: https://lenviq.in/security/ - Glossary: https://lenviq.in/glossary/ - Help: https://lenviq.in/help/ - Writing: https://lenviq.in/blog/ ## Writing - [NPA income reversal and upgrade: the entries both ways, and the two a system double-counts](https://lenviq.in/blog/npa-income-reversal-software-nbfc/): Classification moves an account. The ledger has to move with it -- accrued interest out of income into suspense on the way down, suspense into income on receipt, and nothing at all on the way back up except the arrears test. Where systems post twice, and why the statement and the trial balance are meant to differ. - [Static pool analysis: the fields a lending system has to freeze before the table can exist](https://lenviq.in/blog/static-pool-analysis-software-nbfc/): A cohort table is arithmetic, and the arithmetic is the easy half. What decides whether an NBFC can produce a static pool at all is whether three things were recorded at disbursement and never rewritten -- and most systems rewrite at least one of them. - [Flat rate and reducing balance: why 10% flat is really about 18%](https://lenviq.in/blog/flat-rate-vs-reducing-balance/): A flat rate is charged on the original principal for the whole tenure, however much has been repaid. The reducing-balance equivalent is close to 1.8 times it -- and that ratio barely moves with the amount or the tenure. - [Collection efficiency: how one book gives four different numbers, all of them honest](https://lenviq.in/blog/collection-efficiency-how-to-compute/): Current-month, cumulative, billing and gross collection efficiency are computed from the same book and routinely differ by twenty points. Which denominator you chose is the whole of the difference, and nobody states it. - [How to build a static pool, and the three choices that change the answer](https://lenviq.in/blog/static-pool-analysis-how-to-build/): A static pool is simple arithmetic and still gives four different answers depending on how you cut it. What to fix before you start -- the cohort, the numerator, and the point you measure from -- and what the result tells you that a portfolio NPA cannot. - [Bucket movement and flow rates: reading a delinquency matrix instead of a bucket chart](https://lenviq.in/blog/bucket-movement-and-flow-rates/): A bucket chart says how many accounts are in each ageing band. A movement matrix says where they came from, which is the only version that predicts anything. How to build one, and the roll rate it produces. - [DCB reconciliation: the seven reasons demand, collection and balance stop tying](https://lenviq.in/blog/dcb-reconciliation-why-it-stops-tying/): Opening plus demand minus collection should equal closing. When it does not, the break is almost always one of seven things -- and six of them are not errors but postings the identity was never written to accommodate. - [The Kerala money lending licence: a rate formula in the Act, and a prison sentence behind it](https://lenviq.in/blog/kerala-money-lending-licence/): Kerala caps interest with a formula written into the Act rather than a notification, charges a Rs 5,000 licence fee, and punishes unlicensed lending with imprisonment. Read from the Act, and compared with Tamil Nadu. - [NBFC compliance calendar: what falls due in each month, and where the date comes from](https://lenviq.in/blog/nbfc-compliance-calendar/): A month-by-month filing calendar for a non-deposit-taking NBFC, derived from the periodicity rule in the 2024 Supervisory Returns Directions rather than copied from an older calendar. Shows the working, so you can re-derive any date yourself. - [NBFC compliance checklist: what is required, by how often it is required](https://lenviq.in/blog/nbfc-compliance-checklist/): An NBFC's standing obligations arranged by frequency rather than by subject, because frequency is what decides who does the work and when. Every item carries the direction it comes from and that direction's date. - [NBFC registration and the Certificate of Registration: what RBI requires, and what changes the day it arrives](https://lenviq.in/blog/nbfc-registration-and-cor/): The 50-50 test, the Net Owned Fund requirement and the 31 March 2027 deadline, how the application is made, who is exempt -- and the obligations that begin the moment the CoR is granted rather than when lending starts. - [Upgrading an NPA: why a borrower who pays a lot is still non-performing](https://lenviq.in/blog/npa-upgrade-entire-arrears/): The upgrade rule is a one-way gate -- the entire arrears of interest and principal, not the overdue instalment, not most of it. What that means for a borrower paying down, and for a system that computes classification nightly. - [RBI returns for NBFCs: which return, who files it, and what each one is built from](https://lenviq.in/blog/rbi-returns-for-nbfcs/): The DNBS returns an NBFC files, one row each -- what the return covers, which layer and asset size it applies to, when it is due, and which part of the books each figure has to come out of. - [The Tamil Nadu money lending licence: what the Act requires, and where the interest ceiling actually lives](https://lenviq.in/blog/tamil-nadu-money-lending-licence/): A licence per place of business, an account per debtor with prescribed contents, a receipt for every payment and returns to the Inspector -- read from the Act itself. And the rate ceiling is not in the Act at all. - [The West Bengal money lending licence: one licence for the whole State, and a cap on what a court will give you](https://lenviq.in/blog/west-bengal-money-lending-licence/): West Bengal regulates money lending differently from the southern states -- a three-year State-wide licence, prescribed books in Bengali or English, and a limit not on what you may charge but on what a court will let you recover. - [One loan, four rates: which number belongs on the sanction letter, the agreement and the KFS](https://lenviq.in/blog/which-rate-goes-on-which-document/): A single loan legitimately carries a contracted rate, a flat equivalent, an effective rate and an APR -- all different, all correct. Which document takes which, and what it means when a file shows two of them in the same place. - [Writing off a loan: what it changes in the books, and what it changes for the borrower](https://lenviq.in/blog/write-off-what-it-does/): A write-off removes an asset from the balance sheet. It does not remove the debt, the borrower's liability, the recovery effort or the reporting obligation -- and conflating the two is how a lender loses money it was still entitled to. - [What is a loan origination system, and what does an NBFC need one to do?](https://lenviq.in/blog/what-is-a-loan-origination-system/): An LOS is everything before the loan exists -- lead, party, KYC, collateral, bureau, underwriting, approval, documentation, disbursement. What each stage owns, what separates one that survives an audit, and where it hands over to the LMS. - [NBFC-ICC and the Base Layer: what your category means, what your layer means, and why you have both](https://lenviq.in/blog/nbfc-category-and-layer/): The category says what an NBFC does. The layer says how much regulation it gets. They are separate questions with separate answers, every NBFC carries one of each, and the reason it feels like a contradiction is that they arrived seven years apart. Also: what happened to NBFC-ND-SI. - [NBFC asset classification and provisioning: standard, sub-standard, doubtful, loss -- and what you provide at each](https://lenviq.in/blog/nbfc-provisioning-worked-examples/): A loan is standard until it is ninety days overdue. On day 91 it becomes an NPA and is sub-standard. It stays there twelve months in the Middle and Upper Layers, eighteen in the Base Layer, and then turns doubtful. This works through each stage -- what triggers it, what the layer changes, when security matters and when it does not -- and then follows one Rs 40 lakh loan through all of them. - [Loan management software in India: the platforms an NBFC actually shortlists](https://lenviq.in/blog/best-loan-management-software-india/): An honest survey of the loan management platforms Indian NBFCs evaluate -- what each positions itself as, on public information -- plus the questions that decide between them and why a ranked list is the wrong shape for this decision. - [Gold loan management software for NBFCs: what the 2025 directions require](https://lenviq.in/blog/gold-loan-management-software-nbfc/): What gold loan software has to handle after the RBI's 2025 directions -- the valuation reference, LTV monitoring, dual custody, the seven-working-day return clock, part-release, renewal and auction -- and the questions to ask a vendor. - [How to automate loan origination in an NBFC without losing the credit decision](https://lenviq.in/blog/how-to-automate-loan-origination-nbfc/): What to automate between lead and disbursement -- deduplication, KYC, bureau, eligibility, the approval matrix, documentation -- and what must remain a judgement. The stages, the controls, and where automation quietly removes a check nobody meant to remove. - [How to automate NPA classification in an NBFC](https://lenviq.in/blog/how-to-automate-npa-classification-nbfc/): Automating SMA and NPA staging under RBI norms: what has to be computed nightly, why overdue means demanded-and-unpaid, the upgrade rule that catches most systems out, and how to check whether your classification and your ledger read the same rows. - [How to calculate penal charges under the RBI 2024 rules](https://lenviq.in/blog/how-to-calculate-penal-charges-rbi-2024/): Penal charges after 1 April 2024: how to compute them, why they are not interest, what that means for capitalisation, compounding and the general ledger, and how the borrower's statement and the trial balance can honestly show different numbers. - [How to choose loan management software for an NBFC: an evaluation checklist](https://lenviq.in/blog/how-to-choose-loan-management-software-nbfc/): A structured way to evaluate a lending platform -- the requirements that actually differentiate, the demo questions that separate depth from a slide deck, how to score vendors, and the contract terms an NBFC needs because of the outsourcing directions. - [How to generate RBI returns for an NBFC without re-keying the book](https://lenviq.in/blog/how-to-generate-rbi-returns-nbfc/): Which returns an NBFC files, what each one is built from, why a return assembled in a spreadsheet will eventually disagree with the ledger, and how to make every figure traceable back to the accounts that produced it. - [How to manage multiple loan products in one NBFC system](https://lenviq.in/blog/how-to-manage-multiple-loan-products-nbfc/): Running gold, property, vehicle and unsecured lending on one platform without four code paths -- what varies by product, what must never vary, and how to tell configuration from a hard-coded product name. - [How to manage an NBFC loan portfolio: exposure, demand, quality, concentration and yield](https://lenviq.in/blog/how-to-manage-nbfc-loan-portfolio/): Managing a loan book means being able to answer five questions at any moment -- what is out, what is due, what is deteriorating, what is concentrated, and what it is earning. How to build each view so they agree with each other. - [How to scale NBFC lending operations: what breaks at each stage](https://lenviq.in/blog/how-to-scale-nbfc-lending-operations/): What actually constrains a growing NBFC -- not the software, usually -- and what breaks in order as the book goes from one branch to many: reconciliation, classification, access control, reporting and the audit trail. - [How to track loan collections in an NBFC without losing the audit trail](https://lenviq.in/blog/how-to-track-loan-collections-nbfc/): Building a collections process that holds up: demand generated from due events, allocation that reflects risk, field receipts that appropriate identically to branch receipts, and a record that survives the question of who was contacted and how. - [The Key Facts Statement: what an NBFC must disclose, and what it costs to get wrong](https://lenviq.in/blog/kfs-key-facts-statement-nbfc-requirement/): What goes into a KFS, how the annual percentage rate is computed and what it must include, the clause that stops a lender recovering an undisclosed charge, the vernacular requirement, and why a typed APR eventually contradicts the schedule beside it. - [Loan management software for an NBFC: what it has to do, and how to evaluate it](https://lenviq.in/blog/loan-management-software-for-nbfc/): What a loan management system actually has to handle for an Indian NBFC -- origination, servicing, IRAC classification, penal charges, accounting and RBI returns -- how to decide between building and buying, and the questions that separate a demo from a system you can run a book on. - [Digital lending for NBFCs: what the guidelines require of your systems](https://lenviq.in/blog/nbfc-digital-lending-guide/): The RBI digital lending guidelines in operational terms -- who may hold the money, what a lending service provider may and may not do, the KFS and cooling-off requirements, co-lending mechanics, and what each of these means in the loan management system. - [NBFC income recognition: what the RBI rules require once an account turns bad](https://lenviq.in/blog/nbfc-income-recognition-rbi-rules/): Income recognition on non-performing assets -- why accrued interest is reversed to suspense at classification, what receipt-basis recognition means in the ledger, how a later payment should be applied, and the half of the rule most systems never implement. - [NBFC software: the complete guide to what the stack actually contains](https://lenviq.in/blog/nbfc-software-complete-guide/): LOS, LMS, core lending, accounting, collections and reporting -- what each layer does, where the seams are, what a modern NBFC stack looks like, and how to decide what to buy as one system and what to integrate. - [RBI compliance for NBFCs: asset classification, penal charges, the KFS and the returns](https://lenviq.in/blog/rbi-compliance-for-nbfcs-guide/): Six requirements that land inside an NBFC's systems rather than its policy files: how a loan is classified, what happens to income once it turns, why a penal amount is a charge and not interest, what the Key Facts Statement must contain, what the 2025 gold Directions changed, and the returns that follow from all of it. - [Spreadsheets vs loan management software: when an NBFC has to move](https://lenviq.in/blog/spreadsheets-vs-loan-management-software-nbfc/): The honest comparison -- what spreadsheets do well for a small loan book, the five specific points at which they stop working for an NBFC, what breaks first, and how to migrate without losing the history. - [An audit trail is not a log file](https://lenviq.in/blog/audit-trail-what-counts/): The statutory requirement is an edit log of every change, with the prior value, not capable of being disabled. Most systems record that something changed; far fewer record what it was before. How to test yours in ten minutes. - [Books of account: what has to exist, in what form, and for how long](https://lenviq.in/blog/books-of-account-what-must-be-kept/): The Companies Act sets the floor for every NBFC. Electronic records carry conditions that are easy to fail without noticing, and eight years is longer than most systems are designed for. - [Co-lending: two lenders, one borrower, and two sets of books that must agree](https://lenviq.in/blog/co-lending-what-each-side-owns/): The arrangement is commercially attractive and operationally unforgiving. The share, the classification and the customer interface all have to be unambiguous before the first disbursement. - [Credit reporting moved to a fortnight, and then moved again](https://lenviq.in/blog/credit-information-reporting-2025/): The Credit Information Reporting Directions, 2025 set a fortnightly cycle. For NBFCs an amendment goes further from July 2026 -- four reference dates a month plus a full file. - [Day-end is a business date, not a timestamp](https://lenviq.in/blog/day-end-not-real-time/): Classification is a question about the close of a named day. A lending system that compares timestamps in UTC gets every date on an Indian book wrong by up to five and a half hours -- which is a whole day at the month end. - [Why a loan must keep the scheme terms it was sanctioned under](https://lenviq.in/blog/frozen-terms-at-sanction/): Product masters change. Loans sanctioned under the old terms must keep them, and the only reliable way is to snapshot the terms onto the loan at sanction rather than resolve them through a table years later. - [The 2025 gold loan Directions: what they say, and what they deliberately do not](https://lenviq.in/blog/gold-loan-directions-2025/): LTV maintained on an ongoing basis, a 12-month cap on bullet consumption loans, renewal only on a standard account with accrued interest paid, and a prescribed valuation reference. Also: the provision that was in the draft and was dropped, and the subject the Directions do not address at all. - [The APR on a Key Facts Statement is a computation, not a field](https://lenviq.in/blog/kfs-what-goes-in-the-apr/): Every charge recovered from the borrower goes into it. The common errors are the fee that was deducted at disbursement and the charge that was collected by a third party. - [What happens to interest already booked when an account turns NPA](https://lenviq.in/blog/npa-income-reversal/): Recognition switches to receipt basis, and income already taken on the account has to come back out in the year of classification. The mechanics are simple; the timing, the status check and the audit trail are where implementations go wrong. - [RBI outsourcing rules for NBFCs: what you may outsource, and what stays yours](https://lenviq.in/blog/outsourcing-what-cannot-be-outsourced/): The Reserve Bank's position on outsourcing by NBFCs is consistent across a decade of instruments, and the 2024 gold loan review showed what happens when it is treated as a formality. - [Prepayment charges after the 2025 Directions: who may levy them, and on which loans](https://lenviq.in/blog/prepayment-charges-2025/): Paragraph 5(i) binds every lender. Paragraph 5(ii) names entity classes and omits the Base Layer. And 'MSE' is not the same as 'not an individual'. - [Why a reconciliation is off by a few rupees when every entry matches](https://lenviq.in/blog/reconciliation-off-by-rupees/): Every transaction ties, the totals do not, and somebody posts a rounding-difference journal that grows every month. What actually causes it, how to test for it in an afternoon, and what it costs if it is left alone. - [NBFC layers under Scale-Based Regulation: which one you are in, and what changes](https://lenviq.in/blog/scale-based-regulation-layers/): Scale-Based Regulation put every NBFC in one of four layers. The layer is not a label -- it decides governance, disclosure and, since 2025, whether you may levy a prepayment charge at all. - [SMA-0, 1 and 2 are not warnings -- they are a reported position](https://lenviq.in/blog/sma-classification-what-it-signals/): The special mention buckets are derived from the same day-end DPD that drives NPA classification, and they are reported to the regulator. What each bucket means, why the first boundary is day one, and why the transition dates matter more than the balances. - [What the RBI found when it looked at gold loan books](https://lenviq.in/blog/what-the-2024-gold-review-found/): The September 2024 review named specific practices across banks and NBFCs. Two of them are the kind a lender's own system either prevents or quietly permits. - [What a lender asks for in due diligence, and what each number is meant to reveal](https://lenviq.in/blog/due-diligence-what-lenders-ask/): Collection efficiency, DCB, static pool and vintage analysis -- what they are, why all four get asked for, and what a portfolio-level number hides. - [Why an NPA figure run at 11am differs from the same figure at day-end](https://lenviq.in/blog/irac-day-end-classification/): IRAC classification is computed on the day-end position. What that means for a report run at 11am, and what it does to a month-end close. - [How long an NBFC must keep its books, and what that implies for system design](https://lenviq.in/blog/nbfc-books-retention/): Retention under the Companies Act, what it means for a lending system's data model, and why soft delete is not a design preference. - [Penal charges are charges: what the August 2023 direction changed in the ledger](https://lenviq.in/blog/penal-charges-not-interest/): Why penal amounts stopped being interest, what that means for compounding, capitalisation and the general ledger, and what it implied for existing agreements. - [The Key Facts Statement: what must be disclosed, and where lenders get the APR wrong](https://lenviq.in/blog/rbi-key-facts-statement/): What the KFS has to contain, how the annual percentage rate is actually computed, and the three mistakes that show up most often. ## Glossary - DPD (days past due): How many days an instalment has been overdue. -- https://lenviq.in/glossary/dpd/ - DCB (demand, collection, balance): What was due, what came in, what is left. -- https://lenviq.in/glossary/dcb/ - IRAC norms: Income recognition, asset classification and provisioning. -- https://lenviq.in/glossary/irac/ - SMA-0, SMA-1, SMA-2: Special mention accounts -- the stages before NPA. -- https://lenviq.in/glossary/sma/ - NPA (non-performing asset): An account where payment is overdue beyond the prescribed period. -- https://lenviq.in/glossary/npa/ - Provisioning: The amount set aside against expected loss. -- https://lenviq.in/glossary/provisioning/ - LTV (loan to value): The loan as a percentage of the security's value. -- https://lenviq.in/glossary/ltv/ - APR (annual percentage rate): The all-in cost of a loan, expressed as a yearly rate. -- https://lenviq.in/glossary/apr/ - Penal charges: What a lender may levy for a default -- as a charge, not as extra interest. -- https://lenviq.in/glossary/penal-charges/ - KFS (Key Facts Statement): A standard-format summary of what a loan actually costs. -- https://lenviq.in/glossary/kfs/ - EMI (equated monthly instalment): A fixed monthly payment covering both interest and principal. -- https://lenviq.in/glossary/emi/ - Interest accrual: Interest earned as time passes, whether or not it has been collected. -- https://lenviq.in/glossary/interest-accrual/ - FOIR (fixed obligation to income ratio): What share of a borrower's income is already committed to debt. -- https://lenviq.in/glossary/foir/ - CIC (credit information company): A credit bureau. -- https://lenviq.in/glossary/cic/ - CKYC: The central KYC records registry. -- https://lenviq.in/glossary/ckyc/ - Static pool analysis: How one cohort of loans performed over time. -- https://lenviq.in/glossary/static-pool/ - Vintage analysis: Delinquency by months-on-book across cohorts. -- https://lenviq.in/glossary/vintage-analysis/ - Collection efficiency: Collections as a percentage of what was due. -- https://lenviq.in/glossary/collection-efficiency/ - Overdue: An amount the lender demanded and the borrower did not pay. -- https://lenviq.in/glossary/overdue/ - Prepayment: Paying off part of a loan early, without closing it. -- https://lenviq.in/glossary/prepayment/ - Foreclosure: Closing a loan by paying the whole outstanding early. -- https://lenviq.in/glossary/foreclosure/ - Moratorium: A period where repayment is deferred. -- https://lenviq.in/glossary/moratorium/ ## Pricing Not published. It depends on the loan book and the modules licensed. The free tools above need no sign-up and no contact details. ## Contact - Demo requests: https://lenviq.in/contact/ - Email: hello@lenviq.in