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From Joan Manuel Miranda Guzman <j.miranda0...@gmail.com>
Subject Re: Prepay loan
Date Fri, 30 Sep 2016 10:39:51 GMT
Hello Shereyaank Byadagi,

Ok now i understand the difference, I have created on demo version the loan
account 000000020, but when i click on prepay loan  the transaction amount
show me: 2,601.64
[image: Inline image 1]
Can you please check, is the rest frequency monthly? how can i change it?


Thanks!

On Fri, Sep 30, 2016 at 1:07 AM, Shreyaank Byadagi <
shreyaank@confluxtechnologies.com> wrote:

> Hi Joan,
>
> If the Pre-closure interest calculation rule is set as Calculate till
> preclosure date,
> Loan disbursement is on 01 Jan 2016 and preclosure date is on 15 Jan 2016,
> (if rest frequency is defined as same as repayment date and loan is monthly
> loan) then interest will get calculate from 01 Jan to 14 Jan.
>
> If the Pre-closure interest calculation rule is set as Calculate till rest
> frequency date then
> Loan disbursement is on 01 Jan 2016 and preclosure date is on 15 Jan 2016,
> (if rest frequency is defined as same as repayment date and loan is monthly
> loan) then interest will get calculate from 01 Jan to 31 Jan.
>
> Please see the example in demo version, loan account 000000016 and
> 000000017.
> https://demo.openmf.org/#/viewclient/6
>
> In your example the rest frequency is monthly, so it is collecting the
> full month interest.
>
> Regards
> Shreyaank
>
>
>
>  Sent with Mailtrack
> <https://mailtrack.io/install?source=signature&lang=en&referral=shreyaank@confluxtechnologies.com&idSignature=22>
>
> On Thu, Sep 29, 2016 at 6:28 PM, Joan Manuel Miranda Guzman <
> j.miranda0892@gmail.com> wrote:
>
>> Hello Shreyaank,
>>
>> What is the diference between "Calculate till pre closure date " and " Calculate
>> till  rest frequency date"
>>
>> I have created one but is not working, can you please check:
>> https://autodom.openmf.org,
>> username: mifos
>> password: password
>>
>> The product is called: Prepayloan.
>>
>> I have set  it to the 00000006 client, but if i try to prepay it it shows
>> me an transaction amount of 2600, when the principal was 2000, is
>> calculating all the interest.
>>
>>
>>
>> Thanks!!
>>
>> On Wed, Sep 28, 2016 at 7:35 AM, Shreyaank Byadagi <
>> shreyaank@confluxtechnologies.com> wrote:
>>
>>> Joan,
>>>
>>> ‚ÄčIf the loan is without interest recalculation enabled then you can
>>> foreclose the loan,
>>> If the loan is with interest recalculation enabled, while creating the
>>> loan product there is an option for "Pre-closure interest calculation
>>> rule", there you select "Calculate till pre closure date" from the drop
>>> down.
>>>
>>> Regards
>>> Shreyaank
>>>
>>>
>>>
>>>  Sent with Mailtrack
>>> <https://mailtrack.io/install?source=signature&lang=en&referral=shreyaank@confluxtechnologies.com&idSignature=22>
>>>
>>> On Wed, Sep 28, 2016 at 4:54 PM, Shreyaank Byadagi <
>>> shreyaank@confluxtechnologies.com> wrote:
>>>
>>>> Hi Joan,
>>>>
>>>> I just wanted to know whether  you are enabled interest recalculation?
>>>> Are you closing the loan after 15th day of disbursement or you are just
>>>> making a loan repayment?
>>>>
>>>> Regards
>>>> Shreyaank
>>>>
>>>>
>>>>
>>>> On Wed, Sep 28, 2016 at 4:26 PM, Joan Manuel Miranda Guzman <
>>>> j.miranda0892@gmail.com> wrote:
>>>>
>>>>> Im trying to create a new loan product, an 1 monthly repayment loan
>>>>> for 12 months, but if the client pays after 15 days of disbursement 
only
>>>>> the interest until day 15 ll be charged.
>>>>>
>>>>> Can somebody help me with
>>>>>
>>>>>
>>>>
>>>>
>>>> --
>>>> Thanks and Regards
>>>> Shreyaank
>>>> E-mail:shreyaank@confluxtechnologies.com
>>>>
>>>>
>>>
>>>
>>> --
>>> Thanks and Regards
>>> Shreyaank
>>> E-mail:shreyaank@confluxtechnologies.com
>>>
>>>
>>
>
>
> --
> Thanks and Regards
> Shreyaank
> E-mail:shreyaank@confluxtechnologies.com
>
>

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