Default interest, applied without leaving the loan

A loan going into arrears is stressful enough without the interest calculation turning into its own mini-project.

We built default interest into kennek so it's not a separate exercise. Flag the loan, apply the rate uplift with a reason, and it's already sitting in the schedule - not something someone has to go and re-work by hand afterwards.

When the loan comes back on track, you end it the same way. One place, one record, done.

Small feature. But it's exactly the kind of thing that eats an afternoon when you're doing it manually, and takes about 30 seconds when it isn't.

Want to see it in action? Let's talk.

Originally posted on kennek's LinkedIn.