Description
In an interest recalculation enabled loan, we are noticing the EMI of the last installment is going wrong for the following scenario
To reproduce
- Create the loan product as per the config attached
- Have working day configured from Monday to Friday with "move to next working day"
- Create a loan account and disburse with the following parameters
- Disbursement date: 6th May 2022
- First Repayment date: 27th May 2022
- amount: 7800
- repay: 60 every 1 month
- interest rate 8.9 per annum (which will get you an EMI 161.08
- Now make the repayments in the following order
- 27-May-2022 - 161.08
- 27-June-2022 - 161.08
- 27-Jule-2022 - 161.08
- 30-August-2022 - 161.08
- 01-sept-2022 - 15
- Now check the repayment schedule EMI of the last installment it will be showing the wrong amount.
- Check the schedule screenshot for examples
Attachments
Attachments
Issue Links
- blocks
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FINERACT-1799 Release Apache Fineract 1.7.2
- Resolved
- links to