Close Loan Account

Overview

Closes a loan account after all obligations have been fully satisfied.

Endpoint

POST /api/bpm/cmd

Request Headers

Header	Type	Required	Description
Authorization	string	Yes	Bearer token for authentication
Content-Type	string	Yes	Must be application/json
X-Tenant-Id	string	Yes	Tenant identifier

Request Body

{
  "cmd": "CloseLoanCommand",
  "data": {
    "accountEncodedKey": "LN-2024-001234",
    "comment": "Loan fully repaid ahead of schedule"
  }
}

Parameters

Parameter	Type	Required	Description
cmd	string	Yes	Must be "CloseLoanCommand"
data	object	Yes	Closure data
↳ accountEncodedKey	string	Yes	Loan account identifier (EncodedKey or AccountNumber)
↳ comment	string	No	Closure notes

Response

Success Response (200 OK)

{
  "success": true,
  "message": "Loan closed successfully",
  "data": {
    "loanId": "LA-2024-00001",
    "loanAccountNumber": "3001234567890",
    "status": "Closed",
    "closureDate": "2024-12-15T10:00:00Z",
    "closureType": "FullRepayment",
    "totalPrincipalRepaid": 50000.00,
    "totalInterestRepaid": 6850.00,
    "totalAmountRepaid": 56850.00,
    "outstandingBalance": 0.00,
    "closedBy": "system@bank.com"
  }
}

Status Codes

Code	Description
200	Loan closed successfully
400	Loan has outstanding balance or cannot be closed
401	Unauthorized
403	Insufficient authority
404	Loan not found
409	Loan already closed
500	Internal server error

Business Rules

• All principal and interest must be fully paid
• Outstanding fees can be waived with authorization
• Guarantor releases processed automatically
• Collateral release initiated
• Customer receives closure confirmation
• Historical data retained for reporting

Code Examples

C# Example

public async Task<ClosureResponse> CloseLoanAsync(string loanId, string closureType, bool waiveFees = false)
{
    var request = new { loanId, closureType, waiveFees };
    var json = JsonSerializer.Serialize(request);
    var content = new StringContent(json, Encoding.UTF8, "application/json");
    
    var response = await _httpClient.PostAsync("/api/administration/loan/close", content);
    response.EnsureSuccessStatusCode();
    
    var result = await response.Content.ReadAsStringAsync();
    return JsonSerializer.Deserialize<ApiResponse<ClosureResponse>>(result).Data;
}

TypeScript Example

async function closeLoan(loanId: string, closureType: string, waiveFees: boolean = false): Promise<ClosureResponse> {
  const response = await fetch('/api/administration/loan/close', {
    method: 'POST',
    headers: {
      'Content-Type': 'application/json',
      'Authorization': `Bearer ${accessToken}`,
      'X-Tenant-Id': tenantId
    },
    body: JSON.stringify({ loanId, closureType, waiveFees })
  });
  
  const result = await response.json();
  return result.data;
}

Notes

• Validates all outstanding balances before closure
• Releases guarantors and collateral
• Generates closure certificate for customer
• Updates customer credit profile
• Archived for regulatory retention
• Cannot be reopened once closed