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From "Edward Cable (JIRA)" <j...@apache.org>
Subject [jira] [Updated] (FINERACT-313) For Multiple tranche Loans with Equal Principal Payments after submitting the loan application Principal due is not calculating properly
Date Wed, 18 Jan 2017 14:09:26 GMT

     [ https://issues.apache.org/jira/browse/FINERACT-313?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
]

Edward Cable updated FINERACT-313:
----------------------------------
    Labels: confirm p1  (was: )

> For Multiple tranche Loans with Equal Principal Payments after submitting the loan application
Principal due is not calculating properly
> ----------------------------------------------------------------------------------------------------------------------------------------
>
>                 Key: FINERACT-313
>                 URL: https://issues.apache.org/jira/browse/FINERACT-313
>             Project: Apache Fineract
>          Issue Type: Bug
>          Components: Loan
>            Reporter: Santosh Math
>            Assignee: Markus Geiss
>              Labels: confirm, p1
>         Attachments: 42.png
>
>
> Reported by Subramanya  at https://mifosforge.jira.com/browse/MIFOSX-2130
> Original Description:
> 1. Create a Loan product with following datasets
> Repayment Strategy:RBI (India)
> Repayments:12 every 1 Months
> Amortization:Equal principal payments
> Interest:12 per annum (1% Per month):Declining Balance
> Interest Calculation Period:Daily
> Interest Type:Declining Balance
> Recalculate Interest Yes
> Days in year: Actual
> Days in month: Actual
> Interest recalculation compounding on:	None
> Advance payments adjustment type:Reduce number of installments
> Frequency for recalculate Outstanding Principal: Every -1 days
> Max Tranche Count:2,
> 2.Submit new loan application for a client on 01 January 2015 with first tranche on same
date and 2nd Tranche on 01 March 2015, each with 5000 amount.
> > For 01 February 2015 and 01 March 2015 the principal due should be 416.67 (ie 5000/12).
and From 01 April2015 to 01 January 2016 principal due should be 916.66 (ie 9166.6/10).
> But here it is calculating differently as a result for the last installment principal
due is more.



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