[jira] [Created] (FINERACT-94) Allow a recurring gap/moratorium for principal between repayments

["Binny Gopinath Sreevas (JIRA)" <ji...@apache.org>]

Binny Gopinath Sreevas created FINERACT-94:
----------------------------------------------

             Summary: Allow a recurring gap/moratorium for principal between repayments
                 Key: FINERACT-94
                 URL: https://issues.apache.org/jira/browse/FINERACT-94
             Project: Apache Fineract
          Issue Type: Improvement
          Components: Loan
            Reporter: Binny Gopinath Sreevas
            Assignee: Markus Geiss


Financial institutions may want to ask the client to:
a) Repay interest for every period
b) However, principal may be repaid once in a quarter or once in six months etc.

The variable installment feature could be used. However this would take too long for an end user to create each loan account with the corresponding repayment.

Similar to the existing feature of having a grace/moratorium at the beginning of the loan, I propose to add a "Moratorium periods for principal in between repayments".

If this is set to 2 - then 2 repayments will skip principal portion for repayments and only interest will be collected during these repayments. In effect this means that collect principal once in every 3 repayments.



--
This message was sent by Atlassian JIRA
(v6.3.4#6332)