Hi Ed, Hope you are well.
We have come across a Mifos issue which I hope you can assist with. Problem: When creating a loan for 60 equal instalments on Loan Type - CLRC, MIFOS returns random number of instalments depending on the "Nominal interest rate" we provide. With "Nominal interest rate" being 0, we do receive 60 equal instalments. Please look at the test case below. On the demo website, I have created a Loan Type and Client to demonstrate your problem. Please see below for details. http://mifos.org/mifos-x/demo/ Username: mifos Password: password Client: CLRC CLRC Loan Product: CLRC Created Loan: 2874, 2875 and 2876 Loan Terms Principal: 100000 Loan term: 60 Number of repayments: 60 Repaid every: 1 First repayment on: 29 June 2018 Interest charged from: 22 June 2018 Nominal interest rate: 27.75 Per year On the above test case, MIFOS only returns 59 instalments. Now the question is, what happened to the 60th instalment? Thanks so much, Kind Regards Gayle Congdon Manager - ERP, Accounting & Core Banking Systems [cid:[email protected]] [cid:[email protected]] +27 71 485 2543 [email protected] [cid:[email protected]] Tel: +27 11 617 1803 Fax: +27 11 617 1717 www.nupay.co.za [cid:[email protected]] 8 Kingfisher Crescent, Meyersdal, Alberton, 1448, Gauteng, South Africa PO Box 192, Alberton, 1450, South Africa [cid:[email protected]] [cid:[email protected]] A division of Altron TMT (Pty) Ltd with our B-BBEE rating as a level four contributor, allows our customers to claim 100% of spend towards their preferential procurement measurement for their own B-BBEE status. In addition, 100% of the spend is also claimable as Black Owned and Black Women Owned on the scorecard of our customers. This e-mail is subject to an e-mail disclaimer. Read email disclaimer notice: www.altron.com/email.asp Alternatively please contact us on +27 11 645 3600
