FPC Software

A gold loan involves extending credit to a customer by accepting gold ornaments, bars, or coins as collateral. It's a fully secure form of lending, where the value of the gold determines the sanctioned loan amount. This type of loan typically involves a streamlined due diligence process, often resulting in instant approval, as it relies primarily on the valuation of the pledged gold rather than the borrower's income.

For agricultural producer companies, adopting smart technology is crucial for effectively navigating this period of growth. Leveraging our extensive expertise in precious loan management software dating back to 1999, iCrats provides unparalleled, feature-rich gold loan management solutions tailored specifically for agricultural producer companies. Additionally, we offer an optional online platform for managing gold loans, further enhancing efficiency and accessibility.

Our gold loan solution for farmers producer companies (FPCs) is meticulously crafted to streamline every aspect of the loan process. From application processing, approval, and disbursal to maintaining loan ledgers, customer information, KYC/CKYC records, and gold details, our comprehensive system offers a unified platform. Additionally, it facilitates managing interest schedules, monitoring, collections, reporting, closures, renewals, reminders, notices, auction procedures, risk analysis, and beyond.

Key Features

• Centralized settings and operations encompass a range of essential functions such as product or scheme configuration, charges setup, and interest activities across various types of gold loans. This centralized approach ensures consistency and efficiency in managing these crucial aspects of the lending process.
• The option to implement Scheme customization and interest rate revisions is available on a regional and branch-specific basis.
• The choice is available to either apply interest revisions to new loans exclusively or to extend them to all existing loans.
• The calculation of the eligible amount is determined by the weight, purity, and current market value of the gold.
• A loan register or ledger that includes customer and ornament photos, along with printouts of the register, token, and voucher.
• Maintaining a gold stock register and tracking the inventory of pledged items.
• Calculating the interest amount from the provided date, as well as reverse calculation of the interest applied date based on the given amount.
• Automated capture of penalties and recalibration of receivables for overdue loans.
• The transaction history will be displayed in a tabular format on the ledger entry screen.
• A module for integrated financial accounting.
• To prevent potential fraud, utilize audit trails and optional activity logs.
• The real-time liability of the borrower for the loan.
• Allow users to define asset grading and generate NPA (Non-Performing Assets) reports, along with classifying NPAs and bad debts.
• Enable the uploading of ready-to-download RBI reports, including CIBIL reports.
• Different types of arrears and balance statements.
• Reports that are customizable with the option to export to Excel and PDF formats.