Define a loan scheme once, attach it to each member's loan and let the system build the repayment schedule, with weekly or bi-weekly instalments that follow the group's collection day.
Last updated 2 November 2026 · CK Tech Solutions, Anna Nagar, Chennai
Short answer: A loan scheme in CK Tech microfinance software holds the loan amount, interest, EMI amount, term and repayment frequency. When a loan is created from a scheme, the system builds a schedule of fixed EMI instalments, weekly or bi-weekly, starting on the first collection day of the group after the loan date. Part payments, arrears and advance payments are all handled against that schedule.
| A scheme holds | Amount, interest, EMI amount, number of instalments, repayment frequency |
|---|---|
| Frequency | Weekly or bi-weekly (every 14 days) |
| Schedule | Fixed EMI instalments created for each loan |
| First due date | First collection day of the group after the loan date (one week later for bi-weekly) |
| After the due date | Arrears are tracked; payments made early are tracked as advance |
The schedule is created from the scheme when the loan is created, so every member of a group gets dates that match the group's collection day.
The number of instalments equals the scheme's term, and each one is the scheme's EMI amount.
The first collection day of the group that falls after the loan date. Bi-weekly loans start one week later.
Later instalments follow every 7 days for weekly schemes and every 14 days for bi-weekly schemes.
A loan created before schedules existed gets one built the first time it is opened, and its payments are applied to it.
Payments are always applied to the oldest unpaid instalment first. That keeps the arrears figure honest and makes part payments simple.
Instalments due before today and still unpaid are shown as arrears, with a count of overdue instalments.
A payment larger than what is due now is carried to the next instalments.
A member can pay less than the instalment; the rest stays due.
A payment cannot be more than the outstanding balance of the loan.
Yes. Schemes are a master list, so you can create the schemes your products need and choose one for each loan. A scheme needs a valid term and EMI amount before it can be used.
Related: Microfinance Software · Group loan management · Collection management · MIS reports: DCB and PAR
Tell us how you lend and collect, and we will show you this on a live demo.
Request a demo