Uploaded image for project: 'Apache Fineract'
  1. Apache Fineract
  2. FINERACT-612

Interest Calculation for partial early payment is incorrect

    XMLWordPrintableJSON

    Details

      Description

      Loan Configuration :

      Interest : 32.04% / year

      Loan term 150 Days

      Repayment : 1x

      Disburse date : 4 Oct 2017

      Mature Date : 3 Mar 2018

      Loan Amount : 85,000,000

       

      1st early repayment

      Date : 25 Jan 2018

      Amount : 9,000,000

      Expected allocated paid to interest : 113 Days x (32.04%/360) = 8,548,450

      Expected allocated paid to pricipal : 9,000,000 -  8,548,450 = 451,550

      However, Mifos allocate all payment into interest

      https://demo.openmf.org/#/viewloanaccount/2522

       

        Attachments

          Activity

            People

            • Assignee:
              Unassigned
              Reporter:
              Lasmono Marcell
            • Votes:
              0 Vote for this issue
              Watchers:
              1 Start watching this issue

              Dates

              • Created:
                Updated: