EMI tracking

When a valuation results in a gold loan, GOLD PRO turns it into a repayment schedule: one row per instalment, with an amount and a due date. From there it tracks what has been paid, moves instalments to overdue as dates pass, and emails your customers before and after each due date. This guide covers how a schedule is built, how the figures are calculated, and what happens automatically.

How a schedule is created

A schedule is generated when you save a new valuation, and only when all three of these are true:

• The valuation type is a gold loan, not a sell or a certificate.
• The estimated loan is greater than zero.
• You have chosen a repayment plan on the form.

The plan selector sits under Repayment & Communications on the valuation form. It is disabled unless the valuation is a loan.

Choosing no repayment plan on a loan valuation does not mean no schedule. It collapses to a single bullet instalment covering the whole amount, with interest accrued for a full year, since the interest rate is quoted per annum. Only a sell or certificate valuation produces nothing.

Instalments are dated 30 days apart, with the first falling 30 days after the valuation is saved. Due dates are not aligned to calendar months.

The schedule is written after the valuation itself is saved. If schedule creation fails, the valuation is still saved without it — so a loan valuation showing no instalments is worth checking rather than assuming the plan was never chosen.

How the instalments are calculated

The figures use simple interest over the repayment tenure, with the interest rate quoted as a percentage per annum. The same formula runs in the form preview and on the server, so the Repayment Breakdown you see while filling the form is the schedule that gets saved.

principal     = estimated loan (total value × LTV%, 75% by default)
interest      = principal × (rate / 100) × (months / 12)
total payable = principal + interest + valuation fee
instalment    = total payable / number of instalments

The valuation fee is folded into the schedule rather than billed separately, so the instalments sum to the whole amount the customer owes you.

Two details are worth knowing. The last instalment absorbs any rounding remainder, so the schedule sums to the previewed total payable exactly rather than drifting by a few paise. And a schedule is capped at 60 instalments regardless of what is requested.

For a bullet instalment, the months in the interest formula are 12 — a full year — not the tenure, because there is no tenure to accrue over.

Instalment statuses

Every instalment carries one of four statuses.

An instalment due today is Due Soon, not Overdue — the borrower has until the end of the day. It becomes Overdue tomorrow, which is also what the reminder email tells them.

Statuses are recalculated against the Indian calendar day whenever you open the dashboard, the EMI list, reports, or a valuation page — you do not need to wait for the overnight run for a date to take effect.

When an instalment moves to Paid, the moment is stamped and drives the paid entry on the customer's timeline. Moving it back out of Paid clears that stamp.

Recording a repayment

Repayments are recorded on the valuation, not on the EMI list. Open the valuation from Gold Valuation > All Valuations and work in its EMI section.

Selecting an instalment's status cycles it rather than opening a menu:

Marking an instalment paid for the first time sends the customer a payment-received confirmation by email and push notification. Cycling a paid instalment onward to Overdue does not send anything, so a misclick is recoverable by cycling around to the right status without alarming the customer.

You can also add a one-off instalment to a valuation with an amount and a due date. It is created as Upcoming and joins the existing schedule. This is the way to handle a part payment or an agreed extension, since instalments cannot be edited or removed once written.

Both actions are recorded in the audit trail against your name.

The EMI list

EMI Tracking in the sidebar shows every instalment across your shop, oldest due date first, capped at the 100 nearest. Four tiles across the top count and total each status.

The list is for finding and reading, not editing. Search covers customer name, phone, valuation ID and bank name. You can filter by status, by quick date ranges (today, this week, this month), and — under Filters — by an explicit due-date range and a minimum and maximum amount.

View Details opens a drawer holding the whole loan behind that instalment: the amount, total payable, outstanding balance, what has been paid, the next due date, repayment progress, the customer's details, the ornaments pledged with their photos, and the full instalment history. It is a read-only view.

Instalments you have not looked at yet carry an unread dot. Mark all as read clears them.

Reminders

A scheduled run at 10:00 IST each morning sends the reminders and keeps statuses current across every shop on the platform. Three kinds go out, each to the customer by email and push notification:

Each kind is sent once per instalment and never repeats — an overdue instalment generates one overdue notice, not a daily stream. Every reminder tells the customer to ignore it if they have already paid, and points them at the appraiser who handled the valuation, falling back to your admin's address.

Your staff receive one digest per morning rather than one email per instalment: a single summary naming how many instalments went overdue and their total value. Staff can opt out of these in their notification settings without affecting the in-app notification centre.

Each run handles up to 50 instalments per reminder kind. A shop with a large backlog clears it over successive mornings rather than in one burst.

Related

• Running a valuation — choosing the loan type, LTV and interest rate that drive the schedule
• Customers and KYC — lifecycle stages, including Loan Active and Overdue
• Reports and exports — the EMI health drill-down and exporting schedules
• EMI API — schedules, instalments and pending counts over HTTP