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From Shreyaank Byadagi <shreya...@confluxtechnologies.com>
Subject Re: Prepay loan
Date Thu, 06 Oct 2016 10:26:27 GMT
Hello Joan,

Sorry for the delayed response,
When you are creating a loan product there is a section "*Interest
Recalculation*" under which you will find a small button "*Recalculate
Interest*" active it. You find a drop down where you can set pre-closure
interest to *Rest Frequency date.*
I have attached screenshot for your reference.

Regards
Shreyaank


 Sent with Mailtrack
<https://mailtrack.io/install?source=signature&lang=en&referral=shreyaank@confluxtechnologies.com&idSignature=22>

On Thu, Oct 6, 2016 at 3:38 PM, Joan Manuel Miranda Guzman <
j.miranda0892@gmail.com> wrote:

> Hello Shreyaank,
>
> Did you receive my last email?
>
> Thanks!
>
> On Mon, Oct 3, 2016 at 6:51 AM, Joan Manuel Miranda Guzman <
> j.miranda0892@gmail.com> wrote:
>
>> 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
>>>
>>>
>>
>


-- 
Thanks and Regards
Shreyaank
E-mail:shreyaank@confluxtechnologies.com

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