Description
for a loan product with daily interest calculation, when an advance/late/partial repayments are made, interest calculation is going wrong, which is resulting in 3 major issues
- repayment schedule payment allocation is going wrong
- The next prepayment interest calculation is wrong
- The interest of all the subsequent installments is calculating wrong because of the wrong principal balance.
To reproduce, create a loan product with interest calculation set to daily(check attachment for complete product configuration)
create->disburse a loan with the loan product
do a early repayment to the loan and check the calculation
refer attachment for the sample
Attachments
Attachments
Issue Links
- Blocked
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FINERACT-1305 Release Apache Fineract v1.5.0
- Resolved
- links to