subramanyasn created FINERACT-158:
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Summary: Prepay loan with installment fee attached will go to the
overpaid state than getting closed
Key: FINERACT-158
URL: https://issues.apache.org/jira/browse/FINERACT-158
Project: Apache Fineract
Issue Type: Bug
Components: Loan
Reporter: subramanyasn
Assignee: Markus Geiss
1. Create loan product with following datasets
Repayment Strategy: Overdue/Due Fee/Int,Principal
Repayments: 12 every 1 Months on
Amortization: Equal installments
Interest: 12 per annum (1% Per month) - Declining Balance
Grace: On Principal Payment
Grace: On Interest Payment
Interest Calculation Period: Same as repayment period
Interest Type: Declining Balance
Recalculate Interest: Yes
Days in year: Actual
Days in month: Actual
Interest recalculation compounding on: None
Advance payments adjustment type: Reduce EMI amount
Frequency for recalculate Outstanding Principal: Same as repayment period.
2. Submit new loan application for a client on 01 March 2016 with installment
fee attached (Installment fee - Flat- 100). Approve and disburse on same date.
3. Click on Prepay loan and make prepayment on current system date.
4. Loan is going to overpaid state than moving to closed state.
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