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Posted to dev@fineract.apache.org by "Edward Cable (JIRA)" <ji...@apache.org> on 2017/02/22 13:56:44 UTC
[jira] [Resolved] (FINERACT-235) For flat loan with variable
installment, foreclosure before first repayment date is collecting full
month interest
[ https://issues.apache.org/jira/browse/FINERACT-235?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel ]
Edward Cable resolved FINERACT-235.
-----------------------------------
Resolution: Workaround
> For flat loan with variable installment, foreclosure before first repayment date is collecting full month interest
> ------------------------------------------------------------------------------------------------------------------
>
> Key: FINERACT-235
> URL: https://issues.apache.org/jira/browse/FINERACT-235
> Project: Apache Fineract
> Issue Type: Bug
> Components: Loan
> Reporter: subramanyasn
> Assignee: Markus Geiss
> Labels: confirm, p2
>
> 1. Create loan product with following datasets
> Principal: 10000,
> ROI: 12% pa
> Loan term 12 months,
> Repaid every: 1 month,
> Amortization: Equal Installments
> Interest method: Flat
> Variable installment checked.
> 2. Submit new loan application on 01 January 2016, expected disbursement date 01 January 2016.
> 3. Edit repayment schedule and change first repayment date from 01 February 2016 to 15 January 2016.
> 4. Disburse loan on 15 January 2016.
> Foreclose loan on same date.
> Expected result:
> It should not collect any interest if the foreclosed date is same as disbursement date.
> Actual result:
> It is collecting one month interest.
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