A loan becomes overpaid when repayments or adjustments leave the account with more money paid in than is required to settle the loan. Symba Microbanking shows this as an overpaid loan status and keeps the excess as a credit balance on the loan.

How overpaid loans happen

Common reasons include:

• A repayment is larger than the remaining amount due
• A charge, fee, penalty, or interest amount is adjusted after payment
• A repayment is posted after the loan was already fully settled

What to check

• Open the loan account and review the status, summary, and transaction history
• Confirm the overpaid amount and the transaction date that created the credit balance
• Confirm which account should receive the overpaid balance

Clearing an overpaid balance

Use "Transfer Funds" from the overpaid loan account to move the credit balance to another account, such as the client's savings account. This keeps the balance inside Symba Microbanking and records the movement in both account transaction histories.

See Transfer Funds for the transfer steps.

After the full credit balance is cleared, the loan will be closed automatically by Symba Microbanking.

Related Topics

• Transfer Funds - Move overpaid loan balances to another account
• Loan Transactions - Review loan transaction history
• Loan Closing - Close fully settled loans