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From Ed Cable <edca...@mifos.org>
Subject Question about Fineract Repayment Strategy
Date Tue, 10 May 2016 23:08:46 GMT
Anubhav has the need to support the following as he describes below.
Essentially I think what he needs is for loans that are disbursed post the
10th of the month, the first repayment should be interest only.

One solution that comes to mind is a moratorium on principal for the first
installment but I'm not sure if that would work.

I will let others in the community chime in and suggest how to support this
need.

===========


*(2)*
In the Loan Repayment strategy, kindly guide us how to go about minor
tweaks. Now our organization follows a declining Balance methodology, which
is all covered in MIFOSX. Now the issue which i'm facing is that we have a
Fixed repayment date (1-10)th of every month, and if the loan is disbursed
*post* 10th of any month,say for example 20th Sep, the first repayment on
7th Oct will consist of Interest payment only for (20th Sep-7th Oct) and
post that normal Declining balance methodology shall follow (as pre-defined
in MIFOSX).

Kindly note: the interest charged for (20th June-7th July) in example
stated above, is for holding the full principle , and following that simple
Declining balance defined repayment strategy is followed.

Please refer to the pic attached.
Thanking you again for the kind help.
Will eagerly wait for your reply.

Regards
Anubhav Singh

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