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  1. Apache Fineract
  2. FINERACT-1485

New Loan Charge type "upfront disbursement fees"

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Details

    • Improvement
    • Status: Open
    • Major
    • Resolution: Unresolved
    • 1.8.0
    • 1.9.0
    • Charges, Loan
    • None

    Description

      Refer Attachment for full details of the requirement.

      Requirement Changes 
      New loan entity -  fee type to be introduced  Upfront Disbursement Fee

      Upfront fee can be on |1. % approved amount
      2. Flat|

      Actual Disbursement Amount = Disbursement amount entered - upfront fees amount
      Repayment schedule Repayment schedule should be calculated based on the actual disbursement amount(Disbursement amount entered - upfront fees)
      Transaction Upfront fees should be collected at the time of disbursement(as shown in the transaction sample)
      Accounting entry no changes in accounting entries. it remains standard OOB for disbursement, fees, and transactions
      Repayment schedule calculation   once disbursed with the actual  disbursement  amount- all  calculation  remains the same as OOB as per product configuration

      Attachments

        1. Upfront fee requirement.xlsx
          10 kB
          Bharath Gowda
        2. screenshot-1.png
          40 kB
          Francis Guchie

        Activity

          People

            rrpawar Rahul Pawar
            bgowda Bharath Gowda
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            Dates

              Created:
              Updated: