You are viewing a plain text version of this content. The canonical link for it is here.
Posted to issues@fineract.apache.org by "ASF GitHub Bot (JIRA)" <ji...@apache.org> on 2017/12/29 13:00:00 UTC
[jira] [Commented] (FINERACT-416) Interest to be calculated for the
whole loan term given
[ https://issues.apache.org/jira/browse/FINERACT-416?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=16306258#comment-16306258 ]
ASF GitHub Bot commented on FINERACT-416:
-----------------------------------------
GitHub user MexinaD opened a pull request:
https://github.com/apache/fineract/pull/436
FINERACT-416 Interest of the whole term
You can merge this pull request into a Git repository by running:
$ git pull https://github.com/MexinaD/incubator-fineract FINERACT-416
Alternatively you can review and apply these changes as the patch at:
https://github.com/apache/fineract/pull/436.patch
To close this pull request, make a commit to your master/trunk branch
with (at least) the following in the commit message:
This closes #436
----
commit 5235b7ebc9a7d0a6df9b7e6bd485720af041a575
Author: Mexina M Daniel <me...@...>
Date: 2017-12-29T12:37:19Z
FINERACT-416 Interest of the whole term
----
> Interest to be calculated for the whole loan term given
> -------------------------------------------------------
>
> Key: FINERACT-416
> URL: https://issues.apache.org/jira/browse/FINERACT-416
> Project: Apache Fineract
> Issue Type: Improvement
> Components: Loan
> Reporter: Mexina Daniel
> Assignee: Markus Geiss
> Priority: Critical
> Labels: gsoc2017, p1
>
> As for some of the MFI practise here in our country, they specify the interest for the whole loan term given, i.e their loan product have the interest for the whole loan term regardless of the frequency of repayment ()
> To accomplish this in mifos, a user has to do calculation of finding an interest of a month/year with respect of the loan term of that specific client. This is a very tiresome work as for a day a user can have apply many loans and the task of calculation make the work even harder.
> I was suggesting improvement in the loan product, to be able to allow the interest rate of the whole loan term.
> Example:
> Loan product - Development Loan
> Amount - Min: 100,000, Max:1,000,000
> Interest - 20%
> Loan term - From 3months to 6months
> -- This means the interest given is for any loan term the client will want to take the loan.
--
This message was sent by Atlassian JIRA
(v6.4.14#64029)