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10 Best Loan Management Software in 2021

What is a Loan Management System?

A loan management system is a software application that supports the processes involved in loan management starting from loan disbursement to its closure. LMS system makes the whole lending experience technology driven and hence improves the performance of financial institutions.

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Evolve Girvi Trade

Evolve Girvi Trade

By Evolve WebInfo

(5 reviews)

Starting Price

₹29,500/Quantity

Inclusive of all taxes

Evolve Girvi Trade is a web-based loan management software that enables money lenders to manage their ongoing loan (Gir... Read More About Evolve Girvi Trade
Purchase & sales Auto Backup Accounting +10 More
GEN CMA-EMI

GEN CMA-EMI

By SAG Infotech

(2 reviews)

Starting Price

₹2,950

Inclusive of all taxes

GEN CMA/EMI software allows the borrower in the preparation of credit monitoring arrangements report that must be submit... Read More About GEN CMA-EMI
MPBF calculations EMI Calculator Fund Accounting +8 More
Loan Blaster
Loan Blaster software product has been exclusively designed and developed for all type of Loans. It’s fully Real T... Read More About Loan Blaster
Accounting & Taxation Alert Payment Gateway +13 More
Coderobotics Lender Browser Management Script
Coderobotics Lender Browser Management Script is a complete Financial Management Software designed to serve Startups, SM... Read More About Coderobotics Lender Browser Management Script
Amazing Front end Admin Panel Dashboard +7 More

Top Products

Coderobotics Loan Script - Manage Gold & Business Loans
Coderobotics Loan Script - Manage Gold & Business Loans is a complete Loan Management Software designed to serve Startup... Read More About Coderobotics Loan Script - Manage Gold & Business Loans
Dashboard Loan Management Loan Payment +5 More
Jainam

Jainam

By Jainam Software

PRICE ON REQUEST

Jainam provides a set of features for business users to increase productivity and perform core functions accurately. Dep... Read More About Jainam
Automated Digital Accounting API Access Control +15 More
Binary Stream Loan management
Binary Stream's Loans Management eliminates the need for spreadsheets, reducing the risk of manual errors and improv... Read More About Binary Stream Loan management
Loan Report Loan & Advance Management Integration +3 More
Money Lending Management on Tally
Money Lending Software used especially for Registered Money Lenders is now the best-equipped product in its category. Th... Read More About Money Lending Management on Tally
Loan Management Interest Calculation Analytics & Reporting +5 More

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Turnkey Loan Management Software
Turnkey Loan Management Software is designed to provide a truly holistic solution for entrepreneurial and mid-size lendi... Read More About Turnkey Loan Management Software
Loan Management Portfolio Management CRM +11 More
Webfin
Webfin is a complete Loan Management Software designed to serve Startups, SMBs, SMEs and Agencies. This Loan Management... Read More About Webfin

Last Updated on : 21 Sep, 2021

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Buyer's Guide for Top Loan Management Software

Found our list of Loan Management Software helpful? We’re here to help you make the right choice and automate your business processes. Let’s discover some of the essential factors that you must consider to make a smarter decision!

What is a Loan Management System?

A loan management system is a software application that supports the processes involved in loan management starting from loan disbursement to its closure. LMS system makes the whole lending experience technology driven and hence improves the performance of financial institutions. Loan management system (LMS) is a turn-key lending platform, which acts as the connecting link between borrowers and lenders. Thus, borrowers can get the required access to credit securely and in real-time.

LMS or a loan management system helps in improving the turnaround time and providing better customer service. It helps banks and financial institutions ensure transparency, competency, and efficiency in lending processes.

Loan Management System Features


Document Tracking

If a document is lost or misplaced, you can find that easily with the help of advanced search technologies of the loan management system. One can track any document easily with this software.


Recording Information

Reviewing the customers is done to identify the potential risks in the process. Thanks to loan management software, one can update every financial information easily on the platform. One can even streamline all the activities with these tools.


Report Management

Get customized reports like late accounts, payment summaries, and billing. One can get all information in the form of easy to ready reports with the report management feature of this software.


Servicing Support

With LMS, one can enable allocation of more than one borrower and guarantor to a single loan. It can set up a multi-user network with more than one level of security.


Interest Calculations

Loan management software or LMS includes interest only and self-amortized. The calculation of interest is based on Actual/360, Actual/365 and 30/360, 30/365. It can support adjustable-rate loans as well.


Investor Tracking

Track the amount invested, investor certificates, and investor allocations. With the help of this software, these reports can be exported in the form of an excel as well.


Bank Integration

Loan management software provides bank integration as well. This is required for an efficient lending process.


Integrated Accounting

With integrated accounting, there is no need for making cash flow reports by using ledgers accounting software. All business transactions can be streamlined with the loan management system.

Loan Management Software Modules


Credit Risk Assessment Module

A credit risk assessment is provided to prevent fraudulent activities. It collects data of potential borrowers and helps implement decisions.


Audit Module

All transactions can be traced back to the point where it started. It improves transparency and accountability.


Automatic Write-Off & Waive-Off

Bank write-off and waive-off processes can be streamlined using the loan management system. 


Loan Monitoring

A loan management system helps assess the credit profile of the borrower and monitor their financial health while the loan is due.


EMI Collections

A loan management system can be used to collect EMIs automatically. It also sends reminders to the customer about the due payment date. 


Loan Scheduling

You can schedule roles automatically with loan management software. Now, you no longer have to worry about scheduling them.  


NPA Management

NPA is non-performing assets, which often causes stress to the bank cashflow. A thorough understanding of NPA or bad loans is done with a loan management system in India.


Loan Foreclosure

A loan management system provides lenders the right to foreclose if the buyer stops to pay.

Loan Management System Software Benefits


Seamless Experience

An end-to-end LMS offers a consistent and reliable digital experience to various multinational corporations, medium-sized as well as small businesses.


Easy Lending

The whole lifecycle of a loan (includes origination, covenant tracking, underwriting, collateral management, servicing, and reporting) is covered in this software.


Reduced Complexity

Reduce the complexity with the help of easy integration. Lending management systems also reduce the cost associated with managing more than one system.


One Platform for Better Efficiency

Workflows, calculations, analysis, compliance and servicing, everything can be done with the help of this software. This tool can reduce costs and efforts drastically.


Faster ROI

Loan management software ensures that a large number of loan requests are evaluated quickly and disbursements happen on time, thus ensuring higher ROI.


Eliminates Human Error

You can evaluate loan approval requests accurately and automatically with the loan management system.


Supports Compliance

Using a loan management system, organizations can automate their day-to-day auditable processes to be more compliant with government policies.

Things to Consider Before Buying Loan Management System Software

  • Speed of the LMS: Speed and performance, are essential for all types of businesses. Sanctioning of loans should be streamlined which makes it easier to request and receive a loan.
  • User-Friendliness: One should look for a system that is easy to set up and simple to use. You should be able to configure the software according to your needs.
  • Customer Service: The software you selected may have problems once you start using it. Hence, reliable customer service is required from the loan management system providers. 
  • Mobile and Web Compatibility: Mobile application comes in handy and can be used for a variety of functions. You should make sure to choose a software that comes with a mobile application as well.

FAQ iconLoan Management Software FAQs

Using a loan management system in banking is useful as it helps in automating all the manual processes that are present in lending a loan. Every information regarding the customer can be stored and every information about the loan can be tracked with this software.

The best free loan management software open source is:

  • LenderSuite
  • Apache Fineract
  • HES Online Lending Software
  • Zoho Loaner
  • TheLoanOffice

The price of loan management software differs from software to software. The ones that have more features are obviously costly than the rest. The price of loan management software starts from Rs. 500.

Types of loan management software are:

  • Cloud-based loan management system: SaaS-based LMS can be hosted from different remote locations. Online loan management systems are equipped with cybersecurity and several backup systems.
  • On-premise loan management system: On-premise systems are present inside the organization. Since there is no cloud tech involved, all the information is stored on the company servers.
  • Comprehensive loan management system: To keep up with the ever-changing technology, the LMS should need to adapt to all the new changes in the software space.
  • Automated loan management system: An automated LMS has a clean interface that can integrate with more than one vendor. It saves a significant amount of both time and energy.

Given below is the list of the best loan management system India:

  • GEN CMA-EMI 
  • Webfin
  • Money Lending Management on Tally
  • Turnkey Loan Management Software
  • Loan Blaster 
  • Xentric Gold Loan Application
  • LOANLEDGER
  • WebInfo Money Lending (Girvi)
  • Binary Stream Loan management 
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