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From "Adi Raju" <adi.r...@confluxtechnologies.com>
Subject RE: Configuring Penalty Charge depending on loan's interest rate
Date Mon, 02 Jan 2017 04:53:05 GMT
Hi Lionel,

 

New enhancement with new calculation type would be required to address your requirement.

 

Regards,

Adi Raju

 

Principal Architect,  <http://www.confluxtechnologies.com/> Conflux Technologies Pvt
Ltd

Address: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block, Bengaluru, Karnataka, 560043
INDIA

 

 

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From: Lionel Raymundi - Poincenot [mailto:lionel@poincenot.com] 
Sent: Friday, December 30, 2016 7:02 PM
To: dev@fineract.incubator.apache.org
Subject: Configuring Penalty Charge depending on loan's interest rate

 

Hi devs,

 

According to our business definition, we should charge penalties for unpaid overdued installments
as follows:

 

Every overdue day, charge (installment capital) * (daily interest rate * 1.5) 

 

I know I can configure the penalty as "percentage of amount". The problem is that I cant set
a fixed value on "amount", as it depends on the loan's nominal interest rate (which is not
the same for every loan). I am attaching an image of the intended calculation.

 

I was thinking on developing a new Charge Calculation type as "% Amount * Interest rate".
By doing this, the amount is still fixed, but the base for the calculation would allow me
to do what I need.

 

Is this the only way or is there a better solution?

 

 

Thanks in advance

 

Lionel

 


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