Loans

For your consumer customers or members with loans, mortgages, and leases from your institution, they can easily view them under Accounts and quickly make loan payments via bank account.

Navigating to Loans

To access loans from the web app, go to Loans on the dashboard.

Or select Accounts, then select a loan.

From the mobile app, select a loan from the accounts list on the home screen, or select the arrow to see all accounts.

Loan Details

On the loan account page, the loan details shown depend on your core, as well as the specific account. For loan accounts where Narmi does the core integrations, users can see the total balance, next payment, payment due date, and minimum payment.

Make a Loan Payment

To make a loan payment on web or mobile:

1. Select Accounts > choose a loan account > Make a payment.

   On the web app:
   

   
   On the mobile app:

   

2. On the page that appears, enter the amount of the payment and select the source account for the payment. For instructions on adding a new external account, go to Add a New Account.

   If your financial institution has limits on transfers or is set up to provide disclosures, a link to View your transfer limits and disclosures is available. For information on limits, go to Transfer Limits. For instructions on editing disclosures, go to Transfer Disclosures.

   Select Next.

   
   

3. Enter the following information:

   • Frequency – Select whether the payment should be one-time or recurring:

     • Once

     • Daily

     • Weekly

     • Every two weeks

     • 1st and 15th

     • Monthly

     • Yearly

   • Date – Select a date from the calendar that appears; the default is today’s date

   • Memo (optional) – Enter a short description of the payment

   Select Next.

   

4. Review the transfer information and select Send money. A confirmation appears that your payment is scheduled.

   

   A transfer receipt page appears for confirmation. Select Done to return to the Narmi Banking dashboard, or select Make another transfer to go to the Transfers page.

   

Loan Principal Payment

If your institution has enabled the loan principal feature, your customers/members can make additional one-time payments toward their loan’s principal balance that won't go to the monthly payment, fees, or interest. Please contact your Narmi Relationship Manager to offer this feature.

To make a loan principal payment on web or mobile:

1. Select Accounts > choose a loan account > Make a payment.
   

   With the loan principal feature, your institution can offer loan payments as an option to customers/members on the Transfer page. Please contact your Narmi Relationship Manager to enable this option.

   

2. Select a Payment type from the following options:

   • Amount due – This is the amount you currently owe. This includes any past-due payments, fees, or interest. Select the source account, frequency, and date of payment.

     

   • Custom amount – Choose a custom amount that you want to pay. If you pay more than the amount due, we apply the extra toward your principal balance. Select the source account, payment amount, frequency, and date of payment.

     

   • Principal – Make an additional one-time payment toward your principal balance that does not go to your monthly payment, fees, or interest. Select the source account and payment amount.

     

     Select Review.

3. Review the payment information and select Make payment.

   

   A confirmation message appears saying the payment was sent.