Thanks Santosh. I added bullet loan to the title for people that search that.
Ed On Tue, Oct 31, 2017 at 9:21 AM, Santosh Math < [email protected]> wrote: > Hi Ed, > > I documented it here with little more and concise description: > > http://mifos.cloud.answerhub.com/questions/2393/how-to-pay- > whole-principal-or-whole-principalinter.html?childToView=2394#answer-2394 > > Related to variable instalment, I will reproduce the scenario and let me > come back on that. > > Thanks > Santosh > > On Tue, Oct 31, 2017 at 9:29 PM, Ed Cable <[email protected]> wrote: > >> Santosh, >> >> Could we document that as a solution in AnswerHub? >> >> Ed >> >> On Tue, Oct 31, 2017 at 8:25 AM, Santosh Math < >> [email protected]> wrote: >> >>> Hi Ed, >>> >>> I created one scenario here- all principal only paid at last instalment- >>> using moratorium on Principal payment. >>> >>> https://demo.openmf.org/#/viewloanaccount/1722 >>> >>> If number of instalments are 'n' and then set moratorium on principal >>> payment as 'n-1' >>> >>> in above link n=4. >>> >>> >>> Thanks >>> Santosh >>> >>> On Tue, Oct 31, 2017 at 7:59 PM, Ed Cable <[email protected]> wrote: >>> >>>> Santosh or others, >>>> >>>> I was trying to test out configuration of a bullet loan (all principal >>>> or principal/interest) to be repaid in the final installment of the loan. >>>> >>>> I was going to try two approaches and ended up doing mix of the two to >>>> achieve my purpose but I think it could be made easier. >>>> >>>> *Approach 1: * >>>> - Set loan term to # of months for total maturity of loan (i.e. 24 >>>> months) >>>> - Set # of repayments to 1. >>>> >>>> Expected: Repayment schedule has the 1 one repayment as the final date >>>> in the maturity of the loan >>>> >>>> Actual: Repayment date is first due after disbursal (i.e. first month). >>>> >>>> Approach 2: >>>> >>>> - Create a full schedule >>>> - Modify repayment schedule and delete all the payments except the last >>>> one and modify installments amount to be total. >>>> >>>> Expected: successful loan creation >>>> >>>> Actual: got several different errors even though I had set max gap in >>>> installment to be greater than the gap I was testing. >>>> >>>> validation.msg.loan.variable.schedule.date.must.be.in.min.max.range >>>> >>>> >>>> Blended Approach: >>>> >>>> - At last I just did what I did in approach 1 and then i modified >>>> repayment schedule to adjust the installment date till the maturity date. >>>> Originally I thought i had to do find this maturity date on my own but then >>>> I realize it was displayed so this isn't too bad. >>>> >>>> Alternatively one could specify first repayment date as this maturity >>>> date too. >>>> >>>> Is this the approach one should take? >>>> >>>> -- >>>> *Ed Cable* >>>> President/CEO, Mifos Initiative >>>> [email protected] | Skype: edcable | Mobile: +1.484.477.8649 >>>> <(484)%20477-8649> >>>> >>>> *Collectively Creating a World of 3 Billion Maries | *http://mifos.org >>>> <http://facebook.com/mifos> <http://www.twitter.com/mifos> >>>> >>>> >>> >> >> >> -- >> *Ed Cable* >> President/CEO, Mifos Initiative >> [email protected] | Skype: edcable | Mobile: +1.484.477.8649 >> <(484)%20477-8649> >> >> *Collectively Creating a World of 3 Billion Maries | *http://mifos.org >> <http://facebook.com/mifos> <http://www.twitter.com/mifos> >> >> > -- *Ed Cable* President/CEO, Mifos Initiative [email protected] | Skype: edcable | Mobile: +1.484.477.8649 *Collectively Creating a World of 3 Billion Maries | *http://mifos.org <http://facebook.com/mifos> <http://www.twitter.com/mifos>
