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  1. Apache Fineract
  2. FINERACT-781

Provision to change Loan EMI formula

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    Details

    • Type: Improvement
    • Status: Open
    • Priority: Minor
    • Resolution: Unresolved
    • Affects Version/s: None
    • Fix Version/s: None
    • Component/s: Loan
    • Labels:

      Description

      If there is any provision for change or override formulas for Loan EMI calculation and other place over admin panel might be very useful for different regions 

      (eg) Loan EMI formula mostly used  EMI = [P x R x (1+R)^N]/[(1+R)^N-1] is differ in platform 

      where P stands for the loan amount or principal, R is the interest rate per monthand N is the number of monthly installments

      (source :https://www.businesstoday.in/moneytoday/banking/how-to-calculate-emi-on-your-loans-formula-explanation/story/198944.html)

       or Detailed document to change formula also helpful

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            • Assignee:
              Unassigned
              Reporter:
              santoo Santhoshkumar
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              Dates

              • Created:
                Updated: