Update a Loan

put

https://embarc-api-qa.lendapi.com/embarc-core/api/v1/loans/{loanId}

This API updates the details of an existing loan using its unique loan identifier. It allows modification of loan terms such as principal, tenure, interest configuration, repayment settings, and applicable charges, subject to the loan’s current lifecycle state.

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Path Params

loanId

string

required

Defaults to 1

The unique identifier of a loan.

Regex: ^\d+$

Example: 1

Body Params

productId

string

required

Defaults to 55

The unique identifier of product.
Regex: ^\d+$
Example: 38

clientId

string

required

Defaults to 1

The unique identifier of product.
Regex: ^\d+$
Example: 1

loanType

string

required

Defaults to individual

Loan type is for individual only.
Example: individual

dateFormat

string

required

Defaults to dd MMMM yyyy

mandatory date format when a date field is used
Example: dd MMMM yyyy

locale

string

required

Defaults to en

The locale of the customer. en will be passed as default
Example: en

submittedOnDate

string

required

Defaults to 13 December 2025

The date when the loan application has been submitted
Date in set dateFormat (set this to today's date)
Example: 03 December 2025

expectedDisbursementDate

string

required

Defaults to 13 December 2025

The date when the loan application has been expected to be disbursed
Date in set dateFormat (set this to today's date)
Example: 03 December 2025

principal

string

required

Defaults to 120

The principal amount of the loan.
Regex: ^[1-9][0-9]*$
Example: 1000

loanTermFrequency

string

required

Defaults to 192

The frequency of loan term
loanTermFrequency=12 with loanTermFrequencyType=2
which means a 12‑month term Example: 24

loanTermFrequencyType

string

required

Defaults to 1

The type of frequency for loan payments.The loan term frequency type must be one of the specified integers. Ensure that the loanTermFrequencyType matches the repaymentFrequencyType.
0 - Days, 1 - Weeks, 2 - Months, 3 - Years
Example: 2

numberOfRepayments

string

required

Defaults to 16

Number of loan installment
numberOfRepayments=12 with repaymentFrequencyType =2 which means a 12‑month installment repayment.
0 - Days, 1 - Weeks, 2 - Months, 3 - Years
Example: 24

interestRatePerPeriod

string

required

Defaults to 12

The interest rate per period of the loan.
Regex: ^\d+(.\d+)?$
Example: 5.5

interestRateFrequencyType

string

required

Defaults to 3

The interest rate frequency type of the loan. it is restricted to 3 (year)
Regex: ^\d+$
3 - Years
Example: 3

charges

array of objects

Optional or Fixed: { "chargeId": 9,"amount": 10 }
ChargeId: 9 has been setup up in LMS for a dynamic charge refer to loan template.

charges

interestType

integer

required

Defaults to 0

The type of interest for the loan.
The accepted values for Interest Type are: 0 - Declining Balance
Example: 0

amortizationType

integer

required

Defaults to 1

The type of loan amortization refers to which loan principal and interest are repaid over time.
The accepted values for Amortization Type are: 1 - Equal principal payments
Example: 0

interestCalculationPeriodType

integer

required

Defaults to 0

The type of period for interest calculations.
The accepted values for interestCalculationPeriodType are: 0 - Daily
Example: 0

transactionProcessingStrategyCode

string

required

Defaults to advanced-payment-allocation-strategy

Defaults to advanced-payment-allocation-strategy
the strategy used to process transactions of the loan.
Example: advanced-payment-allocation-strategy

graceOnInterestPayment

integer

Defaults to 6

moratorium interest period if product configuration allows

graceOnPrincipalPayment

integer

Defaults to 3

moratorium principle payment if product configuration allows

repaymentEvery

string

required

Defaults to 12

repaymentFrequencyType

string

required

Defaults to 1

0 - Days, 1 - Weeks, 2 - Months, 3 - Years
Example: 24

Headers

x-embarc-tenant-id

string

required

Defaults to default

Responses

Language

Credentials

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Response

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