Binny Gopinath Sreevas created FINERACT-94:
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Summary: Allow a recurring gap/moratorium for principal between
repayments
Key: FINERACT-94
URL: https://issues.apache.org/jira/browse/FINERACT-94
Project: Apache Fineract
Issue Type: Improvement
Components: Loan
Reporter: Binny Gopinath Sreevas
Assignee: Markus Geiss
Financial institutions may want to ask the client to:
a) Repay interest for every period
b) However, principal may be repaid once in a quarter or once in six months etc.
The variable installment feature could be used. However this would take too
long for an end user to create each loan account with the corresponding
repayment.
Similar to the existing feature of having a grace/moratorium at the beginning
of the loan, I propose to add a "Moratorium periods for principal in between
repayments".
If this is set to 2 - then 2 repayments will skip principal portion for
repayments and only interest will be collected during these repayments. In
effect this means that collect principal once in every 3 repayments.
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