Uploaded image for project: 'Apache Fineract'
  1. Apache Fineract
  2. FINERACT-171

Interest calculated is not proper if the foreclosure is done in between any period

    XMLWordPrintableJSON

Details

    • Bug
    • Status: Closed
    • Critical
    • Resolution: Fixed
    • None
    • None
    • None
    • None

    Description

      1. Create a loan product with daily interest calculation, repaid every 1 month, declining balance, principal 10000, ROI as 12%pa, daily interest calculation.
      2. Create a client and submit new loan application with the above loan product on 01 June 2016, approve and disburse the loan on same date.
      3. Click on foreclosure and enter date as 15 June 2016.
      > The interest should get calculated for 14 days but it is getting collected for the entire month.

      Attachments

        1. foreclosure loan3.png
          85 kB
          subramanyasn
        2. foreclosure loan2.png
          92 kB
          subramanyasn

        Issue Links

          Activity

            People

              mgeiss Markus Geiss
              subramanya@confluxtechnologies.com subramanyasn
              Votes:
              0 Vote for this issue
              Watchers:
              1 Start watching this issue

              Dates

                Created:
                Updated:
                Resolved: