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From "Santosh Math (JIRA)" <j...@apache.org>
Subject [jira] [Created] (FINERACT-322) Rewarding Early Repayment
Date Wed, 21 Dec 2016 12:24:58 GMT
Santosh Math created FINERACT-322:
-------------------------------------

             Summary: Rewarding Early Repayment
                 Key: FINERACT-322
                 URL: https://issues.apache.org/jira/browse/FINERACT-322
             Project: Apache Fineract
          Issue Type: Bug
          Components: Loan
            Reporter: Santosh Math
            Assignee: Markus Geiss


Reported by Shepard Chihoro at https://mifosforge.jira.com/browse/MIFOSX-2520
Original Description:
MIFOSX does not reward customers who make early repayments on a flat interest calculation
method.My normal client contract is has a maximum repayment period of 6 months and a minimum
repayment period of 3 months.On disbursement,MIFOSX calculates the interest for the entire
6 months and makes principal and interest for 6 months outstanding.In the event that the customer
repays the full principal in 3 months,the customer`s account remains with 3 months interest
due.I would like to see interest outstanding being stopped once the principal has been repaid
in full.




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