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Posted to issues@fineract.apache.org by "Santhoshkumar (JIRA)" <ji...@apache.org> on 2019/07/14 10:02:00 UTC

[jira] [Created] (FINERACT-781) Provision to change Loan EMI formula

Santhoshkumar created FINERACT-781:
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             Summary: Provision to change Loan EMI formula
                 Key: FINERACT-781
                 URL: https://issues.apache.org/jira/browse/FINERACT-781
             Project: Apache Fineract
          Issue Type: Improvement
          Components: Loan
            Reporter: Santhoshkumar


If there is any provision for change or override formulas for Loan EMI calculation and other place over admin panel might be very useful for different regions 

(eg) Loan EMI formula mostly used  EMI = [P x R x (1+R)^N]/[(1+R)^N-1] is differ in platform 

where P stands for the loan amount or principal, R is the interest rate per monthand N is the number of monthly installments

(source :[https://www.businesstoday.in/moneytoday/banking/how-to-calculate-emi-on-your-loans-formula-explanation/story/198944.html])

 or Detailed document to change formula also helpful



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