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From "Santosh Math (JIRA)" <j...@apache.org>
Subject [jira] [Updated] (FINERACT-322) Rewarding Early Repayment
Date Mon, 13 Feb 2017 07:57:41 GMT

     [ https://issues.apache.org/jira/browse/FINERACT-322?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
]

Santosh Math updated FINERACT-322:
----------------------------------
    Labels: p2  (was: )

> 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
>              Labels: p2
>
> 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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