Wednesday, February 6, 2013

Opening Loan Account in Finacle - GIVSHE56 RULE in Shortcut

Dear readers, we have already discussed the procedure of account opening in finacle especially for Savings(SB)/ Current Account (CD). If you are working in Credit / Advance Department in Bank , then you often come across account Opening process related to Various Loan accounts such as Term Loan , Personal Loan or education loan . We would like to present Posts related to the same.

As usual, we would like to present first the Short Cut way of Account Opening for Loans and in our next posts we will cover in details with screen shots.

While we open account for Loans we will follow GIVSHE56 rule in which we have to enter details in the mandatory options as below:


Opening the Loan Account  ( Web Mode )

Menu : OAAC 

Pres f4 - customer Id - f4 - f2 - in scheme type give LAA - f4 - select the scheme code - shift f4 -f4 - mode of operation - f4 - S - f4 - N - f4 - C - f4

Delete G Put S - f4 - loan amount - tab - Loan period - f4 - Operative Account - f4

Delete S put H - f4 -f4 -Sanction date - expiry date - f4 - document date -f4 -sanction level - tab - sanction by - tab - sanction ref no - f4 - Security details - f4 - E - f4 - N - f4

Delete H put I - f4 - f4

Delete I put V - f4 - Enter the MIS codes - f4

Delete V put 5 -  Enter the Document details - f4

Delete 5 put E -f4 -Enter the Repayment Schedule details - f4

Delete E , put 6 - Enter DSA details (Reference ID for the account ) - f4

Delete E put A- Down arrow - enter the joint names/Guarantor/Co-obbligants details-f4-f10

Verification of Loan A/c Opening ( Web Mode )
Menu : OAACAU 
Enter - V - f4  - give the temp ID - f4 - f4 - delete G put S - f4 - f4 - delete S put H - f4 - f4 - f4 -Delete H put I - f4 -f4 - delete I put V - f4 - f4 - delete V put 5 - f4 - f4 - delete 5 put E - f4 - f4 - delete E put A - f4  -delete A put 6 - f4  f4 - f10 


Opening of Loan Accounts in ONS Menu ( HOAACLA )

Give the Customer ID > Click on Tree Icon > Click Submit > Select the Scheme Code > Click Accept

General Details Tab
Select the A/c Statement > Specify the Statement Frequency > Dispatch Mode > Next Print Date and Mode of Operation and click Validate

A/c Interest Tab
Click Validate

Scheme Tab
Give the Loan Amount and Loan Period > Give the Operative A/c > click validate

Visit the LA Interest Tab

Flow Parameters Tab
Give the No of Installments and Validate 

Flow Details Tab
Click on Amortization Schedule button for viewing the Repayment Schedule details, you can even take a print.

(You can add the Joint Names / Guarantors Details in Related Party Details )

MIS Codes
Fill up all the necessary Fields and click Validate

A/c Limit Tab
Enter the Sanction Date > Expiry Date > Sanction Authority > Document Date > Sanction Level > Limit Reference No > Drawing Power Indicator and Click Validate.

You can enter the PDC or Documents Details in their respective Tabs and

Finally Click Submit

Verification of the Loan Account 

Function Verify > Give the Temp ID No > Click Accept > Visit all the relevant Tabs and Finally click Submit.


  1. how to disburse a loan in financle

  2. In MIS codes section what does different free texts means..
    For instance : free text1 stands for ?????
    free text 2 stands for ???

  3. can you please describe to me basic steps of handling a loan in finacle especially shortcuts

  4. Nice and interesting information and informative too. Can you pls let me know the good attraction places we can visit: Personal loan disbursement procedure

  5. Thank you for sharing such great information. It has help me in finding out more detail about Education Loans

  6. Thank you for sharing such great information. can you help me in finding out more detail on  schools in sector 57 gurgaon


Posts Category wise :

      CBS Manual – Finacle Menus/ Commands for your ready reference


·         Huge Collection of 938 Finacle Menus

·         286 Selective Finacle Menu options

·         Category wise Commonly used Finacle Menus

·         Finacle Menu options/ Commands for Bank Auditors

·         Frequently used Function keys in Finacle


      Customer ID & Account Opening related Menu Options / Commands


·         Customer ID creation and Verification in Finacle by using CUMM menu

·         Customer ID creation in finacle in short by using CUMM menu

·         Changing Customer ID of a Customer

·         Account Opening (Savings/Current) in Finacle using menu option OAAC

·         Account opening in Finacle – in short

·         Frequently asked questions related to Customer ID  and Account Opening


      Demand Draft / Pay Order related Menu Options / Commands


·         Issuing a Demand Draft using Finacle Menu options TM

·         Issuing Multiple Demand Draft / PO using Finacle menu option TM

·         Printing Demand Draft / PO using menu option DDPRNT

·         Cancellation of Demand Draft  in Finacle using menu option DDC

·         Marking a Demand Draft Lost and issuing Duplicate DD

·         Inquiry and Reports finacle Menu related to Demand Draft


      Miscellaneous Finacle Menu Options / Commands


·         Standing Instruction Maintenance using Finacle Menu Options SIM.

·         Creating a Memo Pad in Finacle Part - I.

·         Creating a Memo Pad in Finacle Part - II.

·         Deleting Memo Pad in Finacle

·         Mass Transaction Posting in Finacle using Finacle Menu option TTUM.

·         Freezing & Unfreezing of accounts in finacle using Finacle Menu AFSM

·         Passbook Printing in Finacle

·         Finacle Teller Cash account Maintenance using Finacle Menu GECM

·         Finacle Menu option TM  for Transaction Posting and Maintenance