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  1. Apache Fineract
  2. FINERACT-12

For Overdue/Due Fee/Int,Principal strategy with variable installment, late repayment is not working as expected

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    Details

    • Type: Bug
    • Status: Open
    • Priority: Major
    • Resolution: Unresolved
    • Affects Version/s: None
    • Fix Version/s: 1.5.0
    • Component/s: Loan
    • Labels:

      Description

      https://mifosforge.jira.com/browse/MIFOSX-2401
      1. Create loan product with following datasets,
      Terms
      Terms vary based on loan cycle : false
      Principal: 10,000 ( Min: , Max : )
      Number of Repayments: 12 ( Min: , Max)
      Repay Every: 1 Months
      Nominal Interest Rate: 1 ( Min: , Max) Per month
      Minimum days between disbursal and first repayment date
      Settings
      Amortization Equal installments
      Interest Method Declining Balance
      Interest Calculation Period Daily
      Arrears Tolerance
      Repayment Strategy Overdue/Due Fee/Int,Principal
      Days in year Actual
      Days in month Actual
      Principal Threshold (%) for Last Instalment 0
      Allow fixing of the installment amount No
      Variable Installments (Min:0 , Max:365)
      Interest Recalculation
      Recalculate Interest Yes
      Advance payments adjustment type Reduce number of installments
      Pre-closure interest calculation rule Calculate till pre closure date
      Interest recalculation compounding on None
      Frequency for recalculate Outstanding Principal Daily
      Frequency Interval for recalculation 1
      Frequency Date for recalculation 01 October 2015
      Is Arrears recognization based on original schedule No
      2. Create a client and submit new loan application on 01 October 2015.
      3. Click on More -> Edit repayment schedule in which delete repayment for 01 November 2015 and click on validate and submit button.
      4. Approve and disburse loan on 01 October 2015.
      5. Make repayment on 15 December 2015.
      > In Overdue/Due Fee/Int,Principal repayment strategy one entry on 15 December 2015 should get created, which is not getting getting created.
      > Interest should get calculated upto 14 December 2015. (Disbursement date 01 October 2015 and first repayment is doing on 15 December 2015).

      Attachments: https://mifosforge.jira.com/browse/MIFOSX-2401

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              • Assignee:
                Unassigned
                Reporter:
                dharp@mifos.org Dayna Harp
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                Dates

                • Created:
                  Updated: