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From "Lionel Raymundi (JIRA)" <j...@apache.org>
Subject [jira] [Created] (FINERACT-362) Configure Penalty Charge depending on loan's interest rate
Date Mon, 02 Jan 2017 12:49:58 GMT
Lionel Raymundi created FINERACT-362:
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             Summary: Configure Penalty Charge depending on loan's interest rate
                 Key: FINERACT-362
                 URL: https://issues.apache.org/jira/browse/FINERACT-362
             Project: Apache Fineract
          Issue Type: Improvement
            Reporter: Lionel Raymundi
            Assignee: Markus Geiss


Our business requirement is to charge penalties for unpaid overdued installments as follows:

"Every overdue day, charge (installment capital) * (daily interest rate * 1.5)"
In other words, this means to penalize the overdue by charging a 50% more of the agreed interest
over the due capital. 

To solve this, a new Charge Calculation type could be created. It should be something like
"% Amount of the installment * Annual nominal interest rate / 100". 



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