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  1. Apache Fineract
  2. FINERACT-1185

Interest Posting on Anniversary Dates

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    Details

    • Type: New Feature
    • Status: Open
    • Priority: Critical
    • Resolution: Unresolved
    • Affects Version/s: 1.4.0
    • Fix Version/s: 1.5.0
    • Component/s: None
    • Labels:
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      Description

      "Anniversary" Interest posting period. Some clients don't necessarily post interest on the last day of the week, or month or quarter. What they do is post interest on the "anniversary" date. So for a fixed deposit or recurring deposit account opened on the 1st of the month, interest is posted on the first of the month for monthly interests. Those opened say on the 29th are posted on the 29th (or the last day of the month if that month doesn't have 29 days like February). A similar thing is done for quarterly or bi-annual postings. 

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              • Assignee:
                Unassigned
                Reporter:
                airsay Airsay
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                Dates

                • Created:
                  Updated: