Documentation

Disbursing to Savings

Disburse loans directly to linked savings accounts without requiring phone numbers or external payment providers.

Overview

The "Disburse to Savings" feature allows you to disburse loan funds directly to a savings account linked to the loan. This method is ideal for:

  • Clients who have both loan and savings accounts
  • Internal transfers that don't require mobile money
  • Ensuring funds go directly into the client's savings for safekeeping

Prerequisites

Before you can disburse a loan to savings:

  • The client must have an active savings account
  • The loan must be linked to the savings account (see Linking Savings Accounts)
  • The loan must be in approved status (not yet disbursed)

How It Works

When you select "Disburse to Savings" as the payment method:

  1. The system validates that the loan has a linked savings account
  2. The loan funds are transferred directly to the linked savings account
  3. The loan status changes to "active" immediately
  4. The savings account balance increases by the loan amount

This process happens instantly without requiring any external payment provider or phone number.

Creating Disbursements to Savings

  • Log in to Symba Payments with a user who is authorized to create disbursements.
  • In Symba Payments, click the 'Disbursal' menu item in the sidebar.
  • In the 'Disbursable loans' section, select the loans that have linked savings accounts.
  • Click the 'Disburse' button.
  • In the "Select Disbursal Method" dialog, choose "Disburse to Savings" from the dropdown.
  • Click the 'OK' button.

The disbursements are now created and ready to be transferred.

Transferring Disbursements to Savings

  • Log in to Symba Payments with a user who is authorized to transfer electronic disbursements.
  • In Symba Payments, click the 'Disbursal' menu item in the sidebar.
  • Click the 'Disbursements' tab to view pending disbursements.
  • Select the disbursements you want to transfer (those with "Disburse to Savings" as the provider).
  • Click the 'Transfer' button.

The system will immediately:

  • Validate that each loan has a linked savings account
  • Transfer the funds to the linked savings accounts
  • Mark the loans as "active"
  • Update the disbursement status to "succeeded"

If any loan does not have a linked savings account, that disbursement will fail with a clear error message.

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