[FINERACT-678] FD - Cumulative Interest Calculation

• Type: Improvement
• Status: Open
• Priority: Major
• Resolution: Unresolved
• Component/s: Savings
• Labels: Roadmap2022
• Assignee: Unassigned
• Reporter: Girish Kumar P A
• Created: 17/Dec/18 13:02
• Updated: 03/Nov/22 13:00

Description

As per the Banks, They won't calculate the Fixed Deposit Interest on a Daily or Daily Average balance (Went to the bank for clarification) all the banks either do a simple interest calculation or on a Monthly, Quarterly, Halfyearly and Annually (cumulative) basis. 

I think Mifos needs to deploy this addition to the current version.