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  1. Apache Fineract
  2. FINERACT-417

The interest distributed is not correct when "interest free period" has a value and interest method is flat

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    Details

    • Type: Bug
    • Status: Closed
    • Priority: Major
    • Resolution: Fixed
    • Affects Version/s: None
    • Fix Version/s: 1.0.0
    • Component/s: Loan
    • Labels:

      Description

      When in loan product the "interest free period" has a value, In the Repayment Schedule, the total interest required is correct but the distribution of the interest is not.
      Reproduce by:
      1 Create loan product: Admin->Products->Loan Product->Create
      2. Default amount 40,000, re-payed every 1 month, number of repayments 4., nominal interest rate 10, interest free period put 1, interest method : flat
      3.Submit
      4. Apply a loan to an active client and submit

      When you view a repayment schedule, the interest in first installment is 0, the interest in rest of installment are not equal even though it gives the correct total interest.

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            • Assignee:
              santoshmath Santosh Math
              Reporter:
              mexina Mexina Daniel
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              Dates

              • Created:
                Updated:
                Resolved: