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From "subramanyasn (JIRA)" <j...@apache.org>
Subject [jira] [Closed] (FINERACT-171) Interest calculated is not proper if the foreclosure is done in between any period
Date Tue, 21 Jun 2016 04:48:57 GMT

     [ https://issues.apache.org/jira/browse/FINERACT-171?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
]

subramanyasn closed FINERACT-171.
---------------------------------
    Resolution: Fixed

Tested and working as expected

> Interest calculated is not proper if the foreclosure is done in between any period
> ----------------------------------------------------------------------------------
>
>                 Key: FINERACT-171
>                 URL: https://issues.apache.org/jira/browse/FINERACT-171
>             Project: Apache Fineract
>          Issue Type: Bug
>            Reporter: subramanyasn
>            Assignee: Markus Geiss
>            Priority: Critical
>         Attachments: foreclosure loan2.png, foreclosure loan3.png
>
>
> 1. Create a loan product with daily interest calculation, repaid every 1 month, declining
balance, principal 10000, ROI as 12%pa, daily interest calculation.
> 2. Create a client and submit new loan application with the above loan product on 01
June 2016, approve and disburse the loan on same date.
> 3. Click on foreclosure and enter date as 15 June 2016. 
> > The interest should get calculated for 14 days but it is getting collected for the
entire month.



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