[jira] [Resolved] (FINERACT-1981) Interest Bearing Enhancement for - Progressive loan accounts

["Bharath Gowda (Jira)" <ji...@apache.org>]

     [ https://issues.apache.org/jira/browse/FINERACT-1981?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel ]

Bharath Gowda resolved FINERACT-1981.
-------------------------------------
    Resolution: Fixed

> Interest Bearing Enhancement for - Progressive loan accounts
> ------------------------------------------------------------
>
>                 Key: FINERACT-1981
>                 URL: https://issues.apache.org/jira/browse/FINERACT-1981
>             Project: Apache Fineract
>          Issue Type: Improvement
>    Affects Versions: 1.11.0, 1.10.1, 1.12.1, 1.13.0
>            Reporter: Bharath Gowda
>            Assignee: Adam Saghy
>            Priority: Major
>              Labels: PepperSoup
>             Fix For: 1.15.0
>
>         Attachments: Repayment schedule handling for mutli disubrsements.xlsx, interest calculation for progressive loans.xlsx
>
>
> *Background and Details*
>  
> The Legacy Repayment schedule calculation in Fineract for Multi Tranche Loan is Recalculating and regenerating the schedule for the whole disbursement amount (all tranche included when ever a new disbursement comes in)
> Also the current progressive type only supports non interest loan accounts. 
> There should be an option where interest can be set for a progressive calculation type and an option where the Disbursement amount should be distributed to the future installments only and should not recalculate the schedule or installments that happened before the disbursement date
> This is the expected behavior for products like Wallets, Digital lending, Line of Credit.
> Same can be achieved through configuration where the Legacy calculation is not impacted
> Loan schedule type
>  * *Cumulative* (by default, legacy): All of the installments are used to split the newly disbursed amount
>  * *Progressive* (work in progress): Only the future installments to be used to split the newly disbursed amount and should support Interest calculation
> Attachment contains the examples and working formula for multi disbursements and Interest calculation for progressive type
>  



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