thynn win created FINERACT-467:
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Summary: Request for equal installment (with equal principal and
equal interest) loan schedule
Key: FINERACT-467
URL: https://issues.apache.org/jira/browse/FINERACT-467
Project: Apache Fineract
Issue Type: New Feature
Components: Loan
Environment: Windows
Reporter: thynn win
Assignee: Markus Geiss
Priority: Critical
Attachments: InterestRateCalculation-Mifos.xlsx, Request for equal
installment with equal interest and equal principal.jpg
For loan repayment schedule, we would like to have an option for equal
installment with equal interest and equal principal option. Please see the
attachment (left grid) for the sample schedule requested.
Currently if we make equal installment, either principal or interest will be
varying. We will arrive at the same interest total interest at the end but our
MFIs would like to have flat interest and equal principal at the same time.
It's be immensely helpful for their borrowers to remember their balances and
interest as they are all the same every time.
Please refer to the spreadsheet.
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