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From Shreyaank Byadagi <shreya...@confluxtechnologies.com>
Subject Re: Prepay loan
Date Fri, 30 Sep 2016 05:07:41 GMT
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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