Setting up a product is an important step in the process of Nimo. When we onboard you initially, we ask you which products you would like to start with, and then Nimo sets those products up in the system.

Below is the process for setting up a new product in the system.  As an example for these instructions we have used a generic ‘Out-Of-The-Box’ Residential Home Loan product to illsutrate the steps.

NOTE: It’s best practice to setup the fees & charges table prior to creating a product or adding any new associated fees in for the product that you are about to create.  The fees and charges table act at an organisational level and can then be linked to the relevant product.  This way, if you need to apply the same fees and charges across multiple Home Loan products you can do so via the ‘Fees and Charges’ table.

 

Firstly, navigate to: Marketing → Product → Add New Product

The click “Edit” button to choose the category of the product

From the drop down category list, select the matched product type from the list and select tthe reason for the change (E.g. setting up a new product)

On the new screen that appears (Management – Product) after selecting and saving the ‘Product Category‘, you can add or select the following attributes by clicking the “edit” button next to each one (the below image is demonstrating editing the purpose of the ‘Residential Property Loan’ product):

NOTE: To see the different attributes  for each individual product type, select from the respective accordions under this one.

• Category: The category of the product you are setting up (Locked) – You can not edit this later
• Name: The name of the loan product as it will appear in the Nimo platform and on any lender-facing or customer-facing interfaces. E.g. “Premium Home Loan” or “Green Home Loan”
  
• Product Detail URL: This is an option for the lender to have a link that offers the customer further detail about the product. It may be a section of their website that compares all the loans of the same type or it may be an option for the customer to click on “More Info”, showing the product terms & conditions of that product.
• *Purpose: Defines the intended use or eligible purposes of the loan. This enables the lender to configure the loan product for specific purposes while preventing it from appearing in application forms where it is not relevant: E.g. Owner occupied or Investment
• Repayment Type: Defines the structure of repayments for the product. E.g. Principal & Interest or Interest Only.
• Repayment Date: Indicates the scheduled date for when repayments are due (the nominated date the repayment will be taken from the account). Select from Day 1 – 28 
• Maximum Repayment Term: The maximum length of the loan in years that the customer will be able to select from.  E.g. 30 years
• Payment Options: Payment frequency. Select to include from: Weekly, Fortnightly, Monthly, Quarterly, Biannually, Annually, No Repayment
• Repayment Structure:  Specifies how repayments are calculated and applied for the loan. The repayment structures available are:
  1. Minimum Repayment – The borrower must make at least the minimum repayment amount each repayment period, regardless of any prior overpayments.
  2. Flat Schedule – The borrower’s repayment obligation is reduced or paused if they have already paid ahead of schedule.
• Features: A summary of notable product features that can be configured for the loan or account. E.g. 100% offset account or redraw, 
• *Interest Rate & Fee: A table defining the applicable interest rate(s), fee structure, and any associated charges for the product. Lenders can configure multiple interest rate combinations for a product in line with their requirements and policies.  See below for further explanation.
• Offset:  Indicates whether the loan supports an offset account feature to reduce interest payable. E.g. Yes or No
• Contract Method: Method of signing loan contracts to formalise the loan agreement. If ‘Nimo Sign’ is selected, the application uses the contract template set up on the platform, automatically pre-populates the required details, and emails the contract to the borrower for signature. If a ‘Solicitor’ is selected, the application is sent to the solicitor via API for contract preparation and processing. E.g. DocuSign, Nimo sign, solicitor.
• Contract Template: Predefined document format that lenders can upload and reuse for generating loan contracts within the Nimo platform. If DocuSign or Nimo Sign is selected, upload the loan contract template for electronic signature.
• Disable staff portal signature pad: Selecting ‘Yes’ removes the signing requirement for staff and brokers (NimoSign only).
• Disable customer portal signature pad: Selecting ‘Yes’ removes the signing requirement for customers (NimoSign only).
• Conditional Approval: States whether the product allows conditional approvals, where an approval is granted subject to additional conditions being met.  E.g. Applicant must upload “Sale of Contract”
• Conditional Approval Template: The predefined format or wording used when issuing conditional approval documents to customers.
• Delinquency Rule: Defines the criteria for classifying an account as delinquent. The lender can select from the predefined delinquency rules configured in the ‘Delinquency‘ tab of the ‘Risk’ layer.
• Funding Pool: Identifies the funding source or pool associated with the product, used for treasury and portfolio tracking. The lender can select from the predefined funding pools configured in the ‘Treasury‘ tab of the ‘Risk‘ layer.
• Security Type: Indicates the security or collateral type applicable to the loan.  E.g. no security, vehicle, property.
• Minimum Vehicle Age: The minimum allowable age for a vehicle to qualify for the product (if applicable).
• Maximum Vehicle Age: The maximum allowable age for a vehicle to qualify for the product (if applicable).
• Campaign: Yes or No
• Risk Pricing: Select from any pre-determined risk-based pricing rules setup Risk > Risk Pricing. This allows lenders to allow adjustments (discount or add) to base interest rates depending on the applicant meeting predefined criteria.
• Assessment Pipeline: Defines the assessment process the application will follow when applying for this product. The lender can select from the predefined assessment pipelines configured in the assessment section of the risk layer. Alternatively the lender can setup a new assessment pipeline.  
• Owner: The lender owner or department responsible for managing this product within the Nimo platform.

*Purpose

Purpose should match the customer use case captured by the form or module, this is one of the values used to determine which products are eligible to be shown in Needs Analysis and Product Selection.

Business should be ticked when the form or module is for a business lending scenario. The reason is the product needs to align to the customer’s stated purpose. If the customer is applying through a business loan journey, the product should carry Business as an allowed purpose so it can be matched correctly.

Commercial is different. Commercial is generally used where the lending scenario is tied to commercial property or a commercial mortgage style product, not general business lending. Nimo material separates Business Loan and Commercial Mortgage as different use cases, which is the clearest indicator they are not the same purpose bucket.

Private should be used for personal or consumer lending scenarios that do not fall under owner occupier, investment, business, or commercial. This would normally cover personal use lending rather than business or property investment use.

Purpose Example:

Business loan form = tick Business
Commercial property loan form = tick Commercial
Residential owner occupied form = tick Owner occupier
Residential investment form = tick Investment
Personal or consumer form = tick Private

*Interest Rate & Fee (Table)

Step 1 – To create an interest rate table, click on the “View” link.

Step 2 – To add components to the table, click on the “Add Item” button.

Step 3 – Once you have completed the field entries for the table, click on the “Add” link on the righ-hand side to set that row of the table and move onto the next row, continuing to compile the full table as per the product (if there are more entries to add).

Step 4 – Save the table, which will return you back to the product screen

 

The below image shows a Term Deposit Interest rate table and the multiple rows that have been added.  When the customer is choosing their term duration and their amount, the form is connecting with this part of the product to return the matched interest rate.

NOTE: Some products such as deposit accounts won’t have a need for an interest rate table but rather a single attributed interest rate.

Overview

This page outlines how loan fees are structured, categorized, and applied within Nimo. Nimo classifies loan-related charges under three distinct types:

1. Product-Based Fees,
2. Organisational Fees, and
3. Broker Fees.

Each fee type has a specific role in defining the end-to-end cost structure for a loan product.

 

 

 

What Are Loan Fees?

Loan fees are financial charges associated with originating, maintaining, or distributing a loan. These fees can apply at the start of the loan (e.g., establishment), on an ongoing basis (e.g., monthly/annual), or as determined by the lender or broker.

In Nimo, loan fees are not part of a single, rigid structure. Instead, they are modular and configurable, allowing flexibility based on the product setup, lender organisation, and intermediary involvement.

1. Product-Based Fees

Product-based fees refer to charges that are specifically tied to individual loan products. These fees allow for tailored pricing structures, enabling different products to have unique cost components such as one-time fees or ongoing service charges. They are defined and managed at the product level and offer flexibility in how fees are calculated and applied.

These fees are designed to reflect the cost structure specific to each product and include the following three core components: Establishment Fee, Monthly Fee, and Annual Fee. Each product created within Nimo maintains its own dedicated pricing table for this purpose.

Before any product-based fees are applied, an authorised administrator is responsible for setting up the standard fees and charges table at the organisational level. Once this setup is completed, staff with the appropriate permissions can proceed to create individual products and associate them with their respective pricing tables.

The pricing table is accessible from the Interest Rate and Fee field within the product creation, typically listed alongside other core configuration fields. Selecting the ‘View’ option opens the pricing table interface, where fee details can be configured. Access to this feature is restricted to users with appropriate administrative permissions.

The pricing table permits configuration of the following fee types:

• Establishment Fee – A one time fee applied at the time of loan settlement. This functions as an application or initiation fee, commonly referred to as an application fee to initiate processing the loan. It may be configured as either a fixed dollar amount or a percentage of the loan amount.

• Monthly Fee – A recurring operational fee charged at the end of each month. This fee is never capitalised; it does not get added to the loan balance. Instead, it is applied on top of regular repayments.

• Annual Fee – A hybrid recurring fee. The first annual fee is charged upfront (and capitalised into the loan). It is then charged again at each annual anniversary of the loan or end of year, depending on the setup. Repayments will reflect this inclusion accordingly.

Each of these fees can be set to either:

• Capitalised – added to the principal loan amount

• Deducted – subtracted from the loan disbursement amount

• Waive – Optional to waive at lender discretion

• Included – Monthly repayment increases to cover fee

Note: The Waive & Included options are not available within the pricing table interface.

It is important to note that even products belonging to the same category must have their pricing tables configured independently. Updates to fee configurations can be made at any time by reopening the relevant product and modifying the values within the pricing table.

During the application process, once an applicant reaches the Product Selection step, the summary displayed on screen will be populated using values retrieved from the configured pricing table.

2. Organisational Fees

Organisational fees are standard charges set by financial institutions to cover institution-wide costs such as administration, compliance, and legal processing. They are not linked to individual products but apply across all relevant loan categories to ensure consistency.

In Nimo, the configuration and application of organisational fees are managed through a centralised structure known as the ‘Fees and Charges Table’. The ‘Fees and Charges Table’ includes a range of predefined fees as well as a list of loan categories. Once configured, the table applies universally to all products created under the organisation.

1. Product Category – Values are configured per loan category and apply globally to all products within the organisation.
2. Fee Structure – Each fee entry allows selection of:
   1. Capitalised  – The fee is added to the total loan amount. The borrower repays the fee over time as part of their scheduled repayments. Increases the overall loan principal.)
   2. Deducted – The fee is subtracted from the disbursed loan amount. The borrower receives slightly less upfront, but repays the full loan amount.
3. Fee Type – The type of fee applicable to each product category. Lenders can choose from setting up a range of automatic fees that form part of the base level product.

These settings are fixed at the organisational level and are not configurable per individual product.

When an application is submitted by a customer, organisational fees are not immediately applied or visible. These values are retrieved only when a staff member, with appropriate access permissions opens the application and navigates to the Product Tab. At that point, the system fetches and displays the applicable fees based on the ‘Fees and Charges Table’.

⚠️ The following categories are excluded and do not trigger fee logic:

• • Credit Card

  • Personal Deposit

  • Business Deposit

⚠️ These fee types directly affect core loan calculations:

• • Loan Amount Including Fees: Capitalised fees increase the total loan amount being borrowed

  • Loan Disbursement Amount: Deducted fees reduce the amount disbursed to the customer

  • Repayment Schedule: Any fees (whether capitalised or deducted) are factored into monthly repayment projections to prevent underpayment or arrears

List of Fees Available Under Loan Categories

Additional Legal Fees

Agent’s Costs – Payable

Agents Costs

Break Costs Administration Fee

Cheque Issuing Fee

Consent Fee

Construction Fee

Default Administration Fees

Deposit Fee

Discharge Administration Fee

Discharge Of Mortgage Registration Fee

Duplicate Fee

Duplicate Statement Fee

External Dishonour Fee

First Title Insurance Premium

Foreign Exchange Fee

Information Fee

Internal Dishonour Fee

Late Payment Fee

Legal Fees

Membership Fee

Mortgage Fees

Mortgage Variation Fee

On-Line Agency Fee

Origination Fee

Overdraft Fee

PPSR Fee

Production Fee

Progress Inspection Fee

Progress Payment Fee

Quantity Surveyor Fee

Quantity Surveyors Fees

Redraw Fee

Renegotiation Fee

Risk Fee

Rollover Fee

Security Guarantee Fee

Security Substitution Fee

Settlement Fee

Switching Fee

Title Search Fee

Top Up Fee

Transfer/Conveyance Registration Fee

Transfer Fee

Valuation Fee

 

3. Broker Fees

Broker fees in Nimo are divided into two distinct types:

1. Broker Fees (Disbursement-Level)

• • These are fees that appear within the contract disbursement section.

  • Common examples include handling fees or third-party charges that the broker applies directly and may deduct from the loan disbursement.

2. Broker Commissions (Upfront & Trail)

• • These are performance-based commissions paid by the lender to the broker.

  • Upfront Commission: Paid once upon loan settlement.

  • Trail Commission: Paid over time, based on loan balance or duration.

  • These values will reflect in the loan contract, as they affect the financial agreement between lender and broker.

 

Repayments

To accommodate different repayment policies across lenders, Nimo offers multiple repayment calculation frameworks designed for consistency and operational flexibility.

Universal Repayment (Platform Default)

The Universal formula in Nimo follows a standard amortisation model commonly used across the financial industry. It ensures consistency and predictable repayment schedules. The repayment amount is calculated as follows:

Repayment = [Principal + Capitalised Fees] amortised over [Term] at [Interest Rate] + Monthly Fees (if applicable)

Key considerations:

• Principal includes the original loan amount plus any capitalised fees (e.g., establishment fee, annual fee).

• Interest is applied on the total repayable balance.

• Monthly Fees, if not capitalised, are added on top of each calculated repayment.

• Supports variable frequencies, based on product setup.

This ensures repayments cover both principal and interest and prevents underpayment even when fees are applied.

Ultracs Repayment (Optional)

The Ultracs repayment engine is an optional integration that overrides the Universal model if toggled on.

Key differences:

• Only supports monthly repayments (fixed frequency).

• Uses Ultracs’s own internal amortisation formula.

• Capitalised fees and interest are still factored in, but the way repayments are distributed over time may differ.

• Repayments initiated on or after the 27th of a month may reflect slight variations due to Ultracs end-of-month interest logic.

• Enabled via a switch at the Risk Configuration in Nimo.

From time to time it may be necessary to change the details of a product, this can be done through the edit menu of any of the products (when necessary, products could be deleted and reloaded as a new product, NOTE: this would change any current and past applciations in the system linked to this product type.  If this is the course of action that must be taken, please speak to Nimo first).

If it’s a matter of amending a product attribute/s then this can be completed by clicking ‘Edit’ next to the product. An example of this may be (not an exhaustive list):

• interest rates changes,
• older product is retired,
• updated regulations/laws force a product amendment,
• a product is rebranded, updated or changed the way it operates,
• the product repayment structure is modified

When you edit a component of the product it will open up on the right-hand side. Each attribute being edited will require you to “Describe the reason for the change“, and then an audit log will be left after the change is made (see the image below demonstrating changes made to a product)

Attributes:

• Category: Loan Residential Property (Locked) – You can’t edit this later
• Name: The name of the product. E.g. “Premium Home Loan” or “Green Home Loan”
  
• Product Detail URL: This is an option for the lender to have a link that offers the customer further detail about the product.
• Purpose: Defines the intended use or eligible purposes of the loan – Owner occupied, Investment, Private.
• Repayment Type: Defines the structure of repayments for the product. Choose between Principal & Interest or Interest Only.
• Repayment Date: Indicates the scheduled date for when repayments are due Select from Day 1 – 28 
• Maximum Repayment Term: The maximum length of the loan in years that the customer will be able to select from.
• Payment Options: Payment frequency. Select to include from: Weekly, Fortnightly, Monthly, Quarterly, Biannually, Annually, No Repayment
• Repayment Structure:  The repayment structures available are:
  1. Minimum Repayment
  2. Flat Schedule
• Features: Select to include from offering: 100% offset account, redraw, no application fee, loan splitting, repayment holiday (when ahead of repayments), additional repayment, line of credit or an overdraft
• *Interest Rate & Fee: A table defining the applicable interest rate(s), fee structure, and any associated charges for the product. Lenders can configure multiple interest rate combinations for a product in line with their requirements and policies.  See below for further explanation.
• Offset: Yes or No – Enabling the ability to offset the actual balance of the loan.
• Contract Method: Method of signing loan contracts – DocuSign, Nimo sign, solicitor.
• Contract Template: If DocuSign or Nimo Sign is selected, upload the loan contract template for electronic signature.
• Delinquency Rule: Link to the delinquency rule.
• Funding Pool: Link to the Funding Pool.
• Security Type: Acceptable securities for this product – property, vehicle, PPSR, no security.
• Owner: Assign a manager for the product.
• Assessment Pipeline: Link to the Assessment rule set applied to this product by the credit management team.

 

*Interest Rate & Fee (Table)

Step 1 – To create an interest rate table, click on the “View” link.

Step 2 – To add components to the table, click on the “Add Item” button.

Step 3 – Once you have completed the field entries for the table, click on the “Add” link on the righ-hand side to set that row of the table and move onto the next row, continuing to compile the full table as per the product (if there are more entries to add).

Step 4 – Save the table, which will return you back to the product screen

For variable interest rate loans, the lender can schedule a future interest rate to take effect on a specified date. Once triggered, this rate becomes the current interest rate, and the lender can set another new rate for a later date if required. This can be used when your organisation has agreed on a rate change ahead of time.

Deleted rows will remain at the bottom as part of the Interest rate audit log.

TIP: If you have more that 5 rows on the table, you can change the view on the bottom right of the table to display more rows per page.

NOTE: Some products won’t have a need for an interest rate table but rather a single attributed interest rate.

Attributes:

• Category: Personal Loan  (Locked) – You can not edit this later
• Name: The name of the product. E.g. “Premium Personal Loan” or “Unsecured Personal Loan”
  
• Product Detail URL: This is an option for the lender to have a link that offers the customer further detail about the product. It may be a section of their website that compares all the loans of the same type or it may be an option for the customer to click on “More Info”, showing the product terms & conditions of that product.
• *Purpose: Defines the intended use or eligible purposes of the loan. Can select from: Owner occupied, Investment, Commercial, Business or Private.
• Repayment Type: Select between Principal & Interest or Interest Only.
• Repayment Date: Indicates the scheduled date for when repayments are due. Select from Day 1 – 28 
• Maximum Repayment Term: The maximum length of the loan in years that the customer will be able to select from.
• Payment Options: Payment frequency. Select to include from: Weekly, Fortnightly, Monthly, Quarterly, Biannually, Annually, No Repayment
• Repayment Structure: Minimum Repayment or Flat Schedule
• Features:  Select to include from offering: 100% offset account, redraw, no application fee, loan splitting, repayment holiday (when ahead of repayments), additional repayment, line of credit or an overdraft
• *Interest Rate & Fee: A table defining the applicable interest rate(s), fee structure, and any associated charges for the product.  See below for further explanation.
• Offset: Yes or No – Enabling the ability to offset the actual balance of the loan.
• Contract Method: Method of signing loan contracts. Select from: DocuSign, Nimo sign, solicitor, Solicitor (manual contract).
• Contract Template: If DocuSign or Nimo Sign is selected, upload the loan contract template for electronic signature.
• Disable staff portal signature pad: Selecting ‘Yes’ removes the signing requirement for staff and brokers (NimoSign only).
• Disable customer portal signature pad: Selecting ‘Yes’ removes the signing requirement for customers (NimoSign only).
• Conditional Approval: States whether the product allows conditional approvals, where an approval is granted subject to additional conditions being met.  E.g. Applicant must upload “Roadworthy certificate”
• Conditional Approval Template: The predefined format or wording used when issuing conditional approval documents to customers.
• Delinquency Rule: Link to the Delinquency Rule setup in the Risk layer.
• Funding Pool: Link to the ‘Personal Lending‘ Funding Pool.
• Security Type: Acceptable securities for this product (vehicle, PPSR, Deposit).
• Minimum Vehicle Age: The minimum allowable age for a vehicle to qualify for the product (if applicable).
• Maximum Vehicle Age: The maximum allowable age for a vehicle to qualify for the product (if applicable).
• Assessment Pipeline: Defines the assessment process the application will follow when applying for this product.  If Personal lending was setup initially there will most likely be a Person Loan pipeline.
• Owner: Assign a product owner.

 

*Interest Rate & Fee (Table)

Step 1 – To create an interest rate table, click on the “View” link.

Step 2 – To add components to the table, click on the “Add Item” button.

Step 3 – Once you have completed the field entries for the table, click on the “Add” link on the right-hand side to set that row of the table and move onto the next row, continuing to compile the full table as per the product (if there are more entries to add).

Step 4 – Save the table, which will return you back to the product screen

The lender can schedule a future interest rate to take effect on a specified date. Once triggered, this rate becomes the current interest rate, and the lender can set another new rate for a later date if required. This can be used when your organisation has agreed on a rate change ahead of time.

Deleted rows will remain at the bottom as part of the Interest rate audit log.

TIP: If you have more that 5 rows on the table, you can change the view on the bottom right of the table to display more rows per page.

Attributes:

• Category: Loan Vehicle (Locked) – You can not edit this later
• Name: The name of the product. E.g. “Used Car loan” or “New Car Loan”
  
• Product Detail URL: Link this to your Vehicle Loan ‘More Details‘ URL if you have a page. It is not mandatory
• Purpose: Owner occupied, Investment, Commercial, Business, Private.
• Repayment Type: Defines the structure of repayments for the product. Choose between Principal & Interest or Interest Only.
• Repayment Date: Indicates the scheduled date for when repayments will be taken from the account. Select from Day 1 – 28 
• Maximum Repayment Term: The maximum length of the loan in years that the customer will be able to select from.
• Payment Options: Payment frequency. Select to include from: Weekly, Fortnightly, Monthly, Quarterly, Biannually, Annually, No Repayment
• Repayment Structure: Minimum Repayment or Flat Schedule
• Features: 100% offset account, redraw, no application fee, loan splitting, repayment holiday (when ahead of repayments), additional repayment, line of credit or an overdraft
• *Interest Rate & Fee: A table defining the applicable interest rate(s), fee structure, and any associated charges for the product. Lenders can configure multiple interest rate combinations for a product in line with their requirements and policies.  See below for further explanation.
• Offset: Yes or No – Enabling the ability to offset the actual balance of the loan with a separate account
• Contract Method: Method of signing loan contracts. Select from: DocuSign, Nimo sign, solicitor or Solicitor (Manual Contract).
• Contract Template: If DocuSign or Nimo Sign is selected, upload your loan contract template for electronic signature.
• Disable staff portal signature pad: Selecting ‘Yes’ removes the signing requirement for staff and brokers (NimoSign only).
• Disable customer portal signature pad: Selecting ‘Yes’ removes the signing requirement for customers (NimoSign only).
• Conditional Approval: Yes or No. The option for allowing Conditional Approvals to occur on this type of product.
• Conditional Approval Template: This is where you would upload your conditional approval template.
• Delinquency Rule: Link to the Delinquency Rule for Personal Loan if there is one set up. (core banking)
• Funding Pool: Link to the associated Funding Pool if your organisation uses funding pools.
• Security Type: Acceptable securities for this product that can be selected are: PPSR, vehicle, Deposit or No Security.
• Minimum Vehicle Age: Input the minimum age allowable per your credit policy for this type of loan. 
• Maximum Vehicle Age: Input the maximum age allowable per your credit policy for this type of loan. 
• Campaign: Select from Yes or No to link the product to a ‘Campaign’
• Risk Pricing: Select from any pre-determined risk-based pricing rules setup Risk > Risk Pricing. This allows lenders to allow adjustments (discount or add) to base interest rates depending on the applicant meeting predefined criteria.
• Assessment Pipeline: Link to the Assessment ruleset for Personal Loans
• Owner: Assign a manager for the product.

 

*Interest Rate & Fee (Table)

Step 1 – To create an interest rate table, click on the “View” link.

Step 2 – To add components to the table, click on the “Add Item” button.

Step 3 – Once you have completed the field entries for the table, click on the “Add” link on the righ-hand side to set that row of the table and move onto the next row, continuing to compile the full table as per the product (if there are more entries to add).

Step 4 – Save the table, which will return you back to the product screen

Attributes:

• Category: Reverse Mortgage (Locked) – You can not edit this later
• Name: The name of the product. E.g. “Premium Reverse Mortgage” or “Retirement Mortgage”
  
• Product Detail URL: This is an option for the lender to have a link that offers the customer further detail about the product. It may be a section of their website that compares all the loans of the same type or it may be an option for the customer to click on “More Info”, showing the product terms & conditions of that product.
• Purpose: Defines the intended use or eligible purposes of the loan. Owner occupied, Investment, Commercial, Business, Private.
• Repayment Type: Defines the structure of repayments for the product. Choose between Principal & Interest or Interest Only.
• Repayment Date: Indicates the scheduled date for when repayments will be taken from the account. Select from Day 1 – 28 
• Maximum Repayment Term: The maximum length of the loan in years that the customer will be able to select from.
• Payment Options: Payment frequency. Select to include from: Weekly, Fortnightly, Monthly, Quarterly, Biannually, Annually, No Repayment
• Features: A summary of notable product features that can be configured for the loan. Select to include from offering: 100% offset account, redraw, no application fee, loan splitting, repayment holiday (when ahead of repayments), additional repayment, line of credit or an overdraft
• *Interest Rate & Fee: Create the interest rate table for the Reverse Mortgage product
• Contract Method: Method of signing loan contracts (DocuSign, NimoSign, solicitor, Solicitor (Manual Contract)
• Contract Template: If DocuSign or NimoSign is selected, upload the loan contract template for electronic signature.
• Conditional Approval: Yes or No for using Conditional Approval in the Reverse Mortgage product.
• Conditional Approval Template: Where you upload your Template for Conditional approval
• Delinquency Rule: Link to the Delinquency rule for Reverse mortgage if there is one set up (Core banking).
• Funding Pool: Link to the Funding Pool if relelveant for your business
• *Security Type: Acceptable securities for this product. See below for further available options.
• Owner: Assign a manager for the product.
• Assessment Pipeline: Link to the Assessment rule set applied to this product by the credit management team.

 

*Security Type:

1. Vehicle
2. PPSR
3. No Security
4. Property
   • • Apartment/Unit
     • Townhouse/Villa
     • Residential Vacant Land  <= 1500 sqm
     • House
     • Commercial Property

*Interest Rate & Fee (Table)

Step 1 – To create an interest rate table, click on the “View” link.

Step 2 – To add components to the table, click on the “Add Item” button.

Step 3 – Once you have completed the field entries for the table, click on the “Add” link on the righ-hand side to set that row of the table and move onto the next row, continuing to compile the full table as per the product (if there are more entries to add).

Step 4 – Save the table, which will return you back to the product screen

Attributes:

• Category: Credit Card  (Locked) – You can not edit this later
• Name: The name of the product. E.g. “Nimo No Fee mastercard” or “Nimo Platinum Points“
  
• Product Detail URL: This is an option for the lender to have a link that offers the customer further detail about the product. It may be a section of their website that compares all the loans of the same type or it may be an option for the customer to click on “More Info”, showing the product terms & conditions of that product.
• Purpose: Defines the intended use or eligible purposes of the loan. Can selct from: Personal, Commercial, Business.
• Repayment Type: Interest Only.
• Minimum Credit Card Limit: Dollar value input
• Minimum Repayment %:  Percentage input
• Interest Rate %:  Base interest rate of the card for purchases
• Cash Advance Rate %: Interest rate attributed to the card when cash advances are made with the card.
• Interest Free Period (Days): The period in time that the card has an interest free period.  Interest will be calculated in the background and charged if the customer doesn’t meet their repayment requirement.
• Annual Fee: The annual Fee atached to the product.
• Establishment Fee: If there is a fee associated with the establishment for a credit card
• Establishment Fee Type: The way in which the fee is charged. Select from Fixed or Percentage.
• Payment Options: Payment frequency. Monthly
• Balance Transfer: Yes or No
• Rewards: Yes or No
• Contract Method: Method of signing loan contracts. Select from: DocuSign, NimoSign or Not Required.
• Contract Template: Credit Card contract
• Disable staff portal signature pad: Yes or No
• Disable customer portal signature pad:  Yes or No
• Conditional Approval: Yes or No to allow conditional approval on this product type.
• Conditional Approval Template: The predefined format or wording used when issuing conditional approval documents to customers.
• Delinquency Rule: Link to the associated Credit Card Delinquency Rule setup in the Risk layer. (Core banking)
• Funding Pool: Link to the associated funding pool if your organisation uses funding pools.
• Security Type: No Security
• Assessment Pipeline: Defines the assessment process the application will follow when applying for this product. Link to the relevant pipeline
• Owner: Assign a product owner.

Attributes:

• Category: Loan Business (Locked) – You can’t edit this later
• Name: The name of the product. E.g. “Line of Credit” or “Business Overdraft”
  
• Product Detail URL: This is an option for the lender to have a link that offers the customer further detail about the product.
• Purpose: Defines the intended use or eligible purposes of the loan –  Owner Occupied, Investment, Commercial, Business, Private.
• Repayment Type: Defines the structure of repayments for the product. Choose between Principal & Interest or Interest Only.
• Repayment Date: Indicates the scheduled date for when repayments are due  Select from Day 1 – 28 
• Maximum Repayment Term: The maximum length of the loan in years that the customer will be able to select from.
• Payment Options: Payment frequency. Select to include from: Weekly, Fortnightly, Monthly, Quarterly, Biannually, Annually, No Repayment, Split Repayment (allows payment options to be split). 
• Repayment Structure:  The repayment structures available are:
  1. Minimum Repayment
  2. Flat Schedule
• Features: Select to include from offering: 100% offset account, redraw, no application fee, loan splitting, repayment holiday (when ahead of repayments), additional repayment
• *Interest Rate & Fee: A table defining the applicable interest rate(s), fee structure, and any associated charges for the product. Lenders can configure multiple interest rate combinations for a product in line with their requirements and policies.  See below for further explanation.
• Offset: Yes or No – Enabling the ability to offset the actual balance of the loan.
• Contract Method: Method of signing loan contracts – DocuSign, Nimo sign, solicitor.
• Contract Template: If DocuSign or Nimo Sign is selected, upload the loan contract template for electronic signature.
• Delinquency Rule: Link to the delinquency rule.
• Funding Pool: Link to the Funding Pool.
• Security Type: Acceptable securities for this product – property, vehicle, PPSR, no security.
• Owner: Assign a manager for the product.
• Assessment Pipeline: Link to the Assessment rule set applied to this product by the credit management team.

 

*Interest Rate & Fee (Table)

Step 1 – To create an interest rate table, click on the “View” link.

Step 2 – To add componen ts to the table, click on the “Add Item” button.

Step 3 – Once you have completed the field entries for the table, click on the “Add” link on the righ-hand side to set that row of the table and move onto the next row, continuing to compile the full table as per the product (if there are more entries to add).

Step 4 – Save the table, which will return you back to the product screen

Attributes:

• Category: Term Deposit Personal (Locked) – You can’t edit this later
• Name: The name of the product. E.g. “12-Month Term Deposit” or “Xmas Term Deposit”
  
• Product Detail URL: This is an option for the lender to have a link that offers the customer further detail about the product such as a product matrix.
• Payment Options: Payment frequency. Select to include from: Weekly, Fortnightly, Monthly, Quarterly, Biannually, Annually, No Repayment
• Prepayment Penalty Rate: The ability to set a penalty rate by percentage if the client wishes to break the maturity term earlier.
• Transactions: Allowing the client to transact on the Term Deposit account. Select either ‘Yes’ or ‘No’.
• *Interest Rate: A pricing table defining the applicable interest rate/s matched against attributes such as the amount of the deposit and length of the investment. See below for further explanation and image.
• Annual Fee: Setting an Annual Fee on a Term Deposit account
• Monthly Fee: Seting a monthly administration/service fee.
• Treasury Account: Nominating where the clients funds will be held
• Owner: Assign a manager for the product.

*Interest Rate (Table)

Step 1 – To create an interest rate table, click on the “View” link.

Step 2 – To add componen ts to the table, click on the “Add Item” button.

Step 3 – Once you have completed the field entries for the table, click on the “Add” link on the righ-hand side to set that row of the table and move onto the next row, continuing to compile the full table as per the product (if there are more entries to add).

Step 4 – Save the table, which will return you back to the product screen

Attributes:

• Category: Term Deposit Personal (Locked) – You can’t edit this later
• Name: The name of the product. E.g. “12-Month Term Deposit” or “Xmas Term Deposit”
  
• Product Detail URL: This is an option for the lender to have a link that offers the customer further detail about the product such as a product matrix.
• Payment Options: Payment frequency. Select to include from: Weekly, Fortnightly, Monthly, Quarterly, Biannually, Annually, No Repayment
• Prepayment Penalty Rate: The ability to set a penalty rate by percentage if the client wishes to break the maturity term earlier.
• Transactions: Allowing the client to transact on the Term Deposit account. Select either ‘Yes’ or ‘No’.
• *Interest Rate: A pricing table defining the applicable interest rate/s matched against attributes such as the amount of the deposit and length of the investment. See below for further explanation and image.
• Annual Fee: Setting an Annual Fee on a Term Deposit account.
• Monthly Fee: Setting a monthly administration/service fee.
• Treasury Account: Nominating where the clients funds will be held.
• Owner: Assign a manager for the product.

*Interest Rate & Fee (Table)

Step 1 – To create an interest rate table, click on the “View” link.

Step 2 – To add componen ts to the table, click on the “Add Item” button.

Step 3 – Once you have completed the field entries for the table, click on the “Add” link on the righ-hand side to set that row of the table and move onto the next row, continuing to compile the full table as per the product (if there are more entries to add).

Step 4 – Save the table, which will return you back to the product screen

For variable interest rate loans, the lender can schedule a future interest rate to take effect on a specified date. Once triggered, this rate becomes the current interest rate, and the lender can set another new rate for a later date if required.

Attributes:

• Category: Depoist Personal (Locked) – You can’t edit this later
• Name: The name of the product. E.g. “Savings account” or “I-Saver”
  
• Product Detail URL: This is an option for the lender to have a link that offers the customer further detail about the product.
• Payment Options: Payment frequency. Select to include from: Fortnightly, Monthly (end of month), Monthly (anniversary), Quarterly, Biannually, Annually, At maturity, Compounding
• Features: Select to include from offering: 100% offset account, redraw, no application fee, loan splitting, repayment holiday (when ahead of repayments), additional repayment.
• Transactions: Yes or No. Selecting whether to include transactions
• Transaction limit: TBC
• payment Type: Defines the structure of repayments for the product. Choose between Principal & Interest or Interest Only.
• Repayment Date: Indicates the scheduled date for when repayments are due  Select from Day 1 – 28 
• Maximum Repayment Term: The maximum length of the loan in years that the customer will be able to select from.
• Payment Options: Payment frequency. Select to include from: Weekly, Fortnightly, Monthly, Quarterly, Biannually, Annually, No Repayment
• Repayment Structure:  The repayment structures available are:
  1. Minimum Repayment
  2. Flat Schedule
• Features: Select to include from offering: 100% offset account, redraw, no application fee, loan splitting, repayment holiday (when ahead of repayments), additional repayment, line of credit or an overdraft
• Interest Rate: Base interest rate for the Deposit account. Percentage input
• Annual Fee: The ability to charge an Annual fee for the account.  Dollar input amount.
• Monthly Fee: Administration/ service fee to be charged each month.
• Offset: Yes or No – Enabling the account to be used as an offset account.
• Deposit Pool: Investment High Risk
• Assessment Pipeline: N/A
• Owner: Assign a manager for the product.

Attributes:

• Category: Depoist Business (Locked) – You can’t edit this later
• Name: The name of the product. E.g. “Business Saver” or “Business Banker”
  
• Product Detail URL: This is an option for the lender to have a link that offers the customer further detail about the product.
• Payment Options: Payment frequency. Select to include from: Fortnightly, Monthly (end of month), Monthly (anniversary), Quarterly, Biannually, Annually, At maturity, Compounding
• Features: Select to include from offering: 100% offset account, redraw, no application fee, loan splitting, repayment holiday (when ahead of repayments), additional repayment.
• Transactions: Yes or No. Selecting whether to include transactions
• Transaction limit: TBC
• payment Type: Defines the structure of repayments for the product. Choose between Principal & Interest or Interest Only.
• Repayment Date: Indicates the scheduled date for when repayments are due  Select from Day 1 – 28 
• Maximum Repayment Term: The maximum length of the loan in years that the customer will be able to select from.
• Payment Options: Payment frequency. Select to include from: Weekly, Fortnightly, Monthly, Quarterly, Biannually, Annually, No Repayment
• Repayment Structure:  The repayment structures available are:
  1. Minimum Repayment
  2. Flat Schedule
• Features: Select to include from offering: 100% offset account, redraw, no application fee, loan splitting, repayment holiday (when ahead of repayments), additional repayment, line of credit or an overdraft
• Interest Rate: Base interest rate for the Deposit account. Percentage input
• Annual Fee: The ability to charge an Annual fee for the account.  Dollar input amount.
• Monthly Fee: Administration/ service fee to be charged each month.
• Offset: Yes or No – Enabling the account to be used as an offset account.
• Deposit Pool: Investment High Risk
• Assessment Pipeline: N/A
• Owner: Assign a manager for the product.

Attributes:

• Category: Construction loan (Locked) – You can not edit this later
• Name: The name of the product. E.g. “land & Build” or “Build Loan”
  
• Product Detail URL: This is an option for the lender to have a link that offers the customer further detail about the product. It may be a section of their website that compares all the loans of the same type or it may be an option for the customer to click on “More Info”, showing the product terms & conditions of that product.
• Purpose: Defines the intended use or eligible purposes of the loan. Owner occupied, Investment, Commercial, Business, Private.
• Repayment Type: Defines the structure of repayments for the product. Choose between Principal & Interest or Interest Only.
• Repayment Date: Indicates the scheduled date for when repayments will be taken from the account. Select from Day 1 – 28 
• Maximum Repayment Term: The maximum length of the loan in years that the customer will be able to select from.
• Payment Options: Payment frequency. Select to include from: Weekly, Fortnightly, Monthly, Quarterly, Biannually, Annually, No Repayment
• Features: A summary of notable product features that can be configured for the loan. Select to include from offering: 100% offset account, redraw, no application fee, loan splitting, repayment holiday (when ahead of repayments), additional repayment.
• *Interest Rate & Fee: Create the interest rate table for the Reverse Mortgage product
• Offset: Yes or No – Enabling the account to be used as an offset account.
• Contract Method: Method of signing loan contracts (DocuSign, NimoSign, solicitor, Solicitor (Manual Contract)
• Contract Template: If DocuSign or NimoSign is selected, upload the loan contract template for electronic signature.
• Conditional Approval: Yes or No for using Conditional Approval in the Reverse Mortgage product.
• Conditional Approval Template: Where you upload your Template for Conditional approval
• Delinquency Rule: Link to the Delinquency rule for Construction loans if there is one set up (Core banking).
• Funding Pool: Link to the Funding Pool if relelvant for your business
• *Security Type: Acceptable securities for this product. See below for further available options.
• Owner: Assign a manager for the product.
• Assessment Pipeline: Link to the Assessment rule set applied to this product by the credit management team.

 

*Security Type:

1. Vehicle
2. PPSR
3. No Security
4. Property
   • • Apartment/Unit
     • Townhouse/Villa
     • Residential Vacant Land  <= 1500 sqm
     • House
     • Commercial Property

*Interest Rate & Fee (Table)

Step 1 – To create an interest rate table, click on the “View” link.

Step 2 – To add components to the table, click on the “Add Item” button.

Step 3 – Once you have completed the field entries for the table, click on the “Add” link on the righ-hand side to set that row of the table and move onto the next row, continuing to compile the full table as per the product (if there are more entries to add).

Step 4 – Save the table, which will return you back to the product screen

 

*Security Type:

1. Vehicle
2. PPSR
3. No Security
4. Property
   • • Apartment/Unit
     • Townhouse/Villa
     • Residential Vacant Land  <= 1500 sqm
     • House
     • Commercial Property

*Interest Rate & Fee (Table)

Step 1 – To create an interest rate table, click on the “View” link.

Step 2 – To add components to the table, click on the “Add Item” button.

Step 3 – Once you have completed the field entries for the table, click on the “Add” link on the righ-hand side to set that row of the table and move onto the next row, continuing to compile the full table as per the product (if there are more entries to add).

Step 4 – Save the table, which will return you back to the product screen