[FINERACT-171] Interest calculated is not proper if the foreclosure is done in between any period

• Type: Bug
• Status: Closed
• Priority: Critical
• Resolution: Fixed
• Assignee: Markus Geiss
• Reporter: subramanyasn
• Created: 15/Jun/16 10:51
• Updated: 21/Jun/16 04:47
• Resolved: 21/Jun/16 04:47

Description

1. Create a loan product with daily interest calculation, repaid every 1 month, declining balance, principal 10000, ROI as 12%pa, daily interest calculation.
2. Create a client and submit new loan application with the above loan product on 01 June 2016, approve and disburse the loan on same date.
3. Click on foreclosure and enter date as 15 June 2016.
> The interest should get calculated for 14 days but it is getting collected for the entire month.

Issue Links

• relates to: FINERACT-167 Implementation of loan foreclosure functionality