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Posted to dev@fineract.apache.org by Karthik Ananthakrishnan <ka...@beyondsquare.com> on 2018/04/07 18:51:25 UTC
Negative Value of interest in tranche loan creation
Hello all,
Facing negative interest issue when creating trache loan. Below is the details. Can someone tell if you have faced the same issue and fixed.? Or are we making any mistake while creating the loan.
We have created a new Tranche Loan as follows:
Disbursement Date: 01/05/2018
Principal : 100,000
Loan Term : 60 Months
Number Of Repayments: 60
Repaid Every: 1 Month
First Repayment: 31 May 2018
Nominal Interest Rate: 10 per Year
Interest Method: Declining Balance
Amortization: Equal Installments
Interest Calculation Period: Same as Repayment Period
Calculate interest for exact days in partial period: True
Loan Tranche Details:
Maximum allowed outstanding balance: 100,000
Expected Disbursement On Principal
01/05/2018 20,000
05/05/2018 30,000
10/05/2018 40,000
15/05/2018 10,000
The loan creation screenshots are attached
Below(LoanCreation1,LoanCreation2,LoanCreation3,LoanCreation4)
When we create this loan, the repayment schedule generated gives the Interest for the first installment as a negative value.
This issue is only faced when we explicitly mention the first repayment date in the same month as of the tranche expected disbursement date. The repayment schedule generated is also attached (RepaymentSchedule).
Thanks,
Karthik
Re: Negative Value of interest in tranche loan creation
Posted by Santosh Math <sa...@confluxtechnologies.com>.
Hi Karthik,
Can you reproduce the same issue here?
https://demo.openmf.org (mifos/password)
On Sun, Apr 8, 2018 at 12:21 AM, Karthik Ananthakrishnan <
karthik.a@beyondsquare.com> wrote:
> Hello all,
>
> Facing negative interest issue when creating trache loan. Below is the
> details. Can someone tell if you have faced the same issue and fixed.? Or
> are we making any mistake while creating the loan.
>
> We have created a new Tranche Loan as follows:
> Disbursement Date: 01/05/2018
> Principal : 100,000
> Loan Term : 60 Months
> Number Of Repayments: 60
> Repaid Every: 1 Month
> First Repayment: 31 May 2018
> Nominal Interest Rate: 10 per Year
> Interest Method: Declining Balance
> Amortization: Equal Installments
> Interest Calculation Period: Same as Repayment Period
> Calculate interest for exact days in partial period: True
>
> Loan Tranche Details:
> Maximum allowed outstanding balance: 100,000
> Expected Disbursement On Principal
> 01/05/2018 20,000
> 05/05/2018 30,000
> 10/05/2018 40,000
> 15/05/2018 10,000
>
> The loan creation screenshots are attached
> Below(LoanCreation1,LoanCreation2,LoanCreation3,LoanCreation4)
>
> When we create this loan, the repayment schedule generated gives the
> Interest for the first installment as a negative value.
> This issue is only faced when we explicitly mention the first repayment
> date in the same month as of the tranche expected disbursement date. The
> repayment schedule generated is also attached (RepaymentSchedule).
>
> Thanks,
> Karthik
>
>
>
--
Thanks & Regards
Santosh Math
*QA Engineer*
*Conflux Technologies Pvt Ltd <http://www.confluxtechnologies.com/>*
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