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From "Sendoro Juma (JIRA)" <>
Subject [jira] [Commented] (FINERACT-131) Allow new loans to clear balances of existing loans (Top Up Loans)
Date Tue, 16 Aug 2016 10:51:21 GMT


Sendoro Juma commented on FINERACT-131:

Dear Colleagues,

I'm not sure if I follow; I have experience practice where by the whole 
current loan balance is migrated to new initiated top up loan... and 
repayment formula follow the new top-up loan.

The current/rather the old loan become closed...

Is what you said?


> Allow new loans to clear balances of existing loans (Top Up Loans)
> ------------------------------------------------------------------
>                 Key: FINERACT-131
>                 URL:
>             Project: Apache Fineract
>          Issue Type: Improvement
>            Reporter: Dayna Harp
>            Assignee: Markus Geiss
>            Priority: Minor
> Essentially this is a very straight forward implementation of the top-up loans principle,
whereby the current loan will be paid off using the balance of the top up loan (once approved/disbursed).
The disbursed amount of the top-up loan will therefore be reduced by the outstanding balance
(P+I) of the old loan. The remainder is treated as a completely new product with a new schedule.

> A proposed way to implement this might be to specify whether a certain product is eligible
for topping up and if so, to pull in a list of active loans from the same client as part of
the loan template when setting up the product.

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