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  1. Apache Fineract
  2. FINERACT-1397

Interest calculation issue when repayment is made on the disbursement day

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Details

    • Bug
    • Status: Open
    • Major
    • Resolution: Unresolved
    • 1.5.0
    • 1.10.0
    • Loan
    • None

    Description

      Interest calculation is wrong when repayment is made on the disbursement day for the daily interest loan product

       

      To reproduce the issue

      1. Create a loan product with daily interest calculation and interest recalculation enabled.(have attached the screenshot of the loan product configuration)

      2. Create/approve/disburse a loan account with a first repayment date of 30 days gap from the disbursement date.

      3. Make the repayment on the same day of the disbursement date and verify the interest 

       

      check excel calculation for example issue and expected result.

       

      Any other date apart from the disbursement date repayment the interest calculation is happening currently.

       

       

      Attachments

        1. interest calculation issue.xlsx
          12 kB
          Bharath Gowda
        2. product configuration.png
          155 kB
          Bharath Gowda

        Activity

          People

            avikg Avik Ganguly
            bgowda Bharath Gowda
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            Dates

              Created:
              Updated: