Introduction to Parceled Credit Product

This module allows banks to offer the following credit products such as Personal Credit, Direct Consumer Credit (CDC), Revolving Credit, Consignment, Credit Card, Working Capital to its customers.

Credit Operations

In Brazil, Financial Institutions offer loan products to its clients (individuals and legal entities).

This functionality allows financial institutions to collect the IOF (Imposto sobre Operações Financeiras) tax when issuing a loan for a customer. The IOF can be discounted in the release of the amount to the borrower (client) or the financial institution can finance it.

The IOF tax can be applied in two ways:

• Discounted from the principal amount of the loan. With this option the Financial Institution deducts the total IOF from the principal amount debited from the current account of the customer on the same date. The Financial Institution will transfer the IOF amount to the Brazilian Federal Revenue (IRS).
• Financed by a Financial Institution. With this option, the Financial Institution adds the pro-rata amounts of the IOF in the instalments.

The BRMB.LENDING.PARAM application is used to define the maximum number of days (calendar days) to consider for the calculation of the IOF tax.