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From Joan Manuel Miranda Guzman <j.miranda0...@gmail.com>
Subject Re: Prepay loan
Date Mon, 03 Oct 2016 10:51:40 GMT
Hello Shreyaank,

Where does i have to set up the Rest Frequency?
[image: Inline image 1]

[image: Inline image 2]

On Fri, Sep 30, 2016 at 7:13 AM, Shreyaank Byadagi <
shreyaank@confluxtechnologies.com> wrote:

> Joan,
>
> In your scenario Rest Frequency should be "Daily".
>
> Regards
> Shreyaank
>
>
>
>  Sent with Mailtrack
> <https://mailtrack.io/install?source=signature&lang=en&referral=shreyaank@confluxtechnologies.com&idSignature=22>
>
> On Fri, Sep 30, 2016 at 4:41 PM, Shreyaank Byadagi <shreyaank@
> confluxtechnologies.com> wrote:
>
>> Joan,
>>
>> Please look into the attached screen shot. Frequency for recalculation
>> should be "Daily" or "Same as Repayment"
>>
>> Regards
>> Shreyaank
>>
>>  Sent with Mailtrack
>> <https://mailtrack.io/install?source=signature&lang=en&referral=shreyaank@confluxtechnologies.com&idSignature=22>
>>
>> On Fri, Sep 30, 2016 at 4:09 PM, Joan Manuel Miranda Guzman <
>> j.miranda0892@gmail.com> wrote:
>>
>>> 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
>>>>
>>>>
>>>
>>
>>
>> --
>> Thanks and Regards
>> Shreyaank
>> E-mail:shreyaank@confluxtechnologies.com
>>
>>
>
>
> --
> Thanks and Regards
> Shreyaank
> E-mail:shreyaank@confluxtechnologies.com
>
>

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