Major Description
The following scenario would land up to the issue;
Prerequisite :
1. Saving account : Over draft availability with net interest charge .
2. No positive interest on the balance of savings account.
3. Interest compounding period - Monthly
4. Interest is calculated using Daily Balance.
Scenario:
1. In a overdraft setup where a limit is put to place, the user withdraws the overdraft limit completely.
2. Post the overdraft interest posting, the negative balance further crosses him limit.
3. In this scenario, even when the user repays the outstanding due completely, he is not able to withdraw from the Overdraft limit post this.
Example :
From the screenshots attached;
The user has a overdraft limit of 71000 and is charged at 24% . On 01 September 2017 , the interest posting took place and the outstanding balance crossed his overdraft limit. He also repaid the complete due and currently has a positive balance of 1027.23. As per the setup he should be able to withdraw 71000 ( OD limit ) +1027.23 ( outstanding balance ). When he withdraws RS:10 on 08 September 2017, the system throws Insufficient funds to complete the transaction.
