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https://issues.apache.org/jira/browse/FINERACT-131?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=15424531#comment-15424531
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Dayna Harp commented on FINERACT-131:
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Top up loan principal should stop that the total loan approved amount.
Generally, interest is not included in a disbursal amount. For those
organizations that do include interest, they will have to set an internal
policy stating such. If I, as a credit officer approve a loan for up to 10000
- that tells me that the principal amount can be as high as 10000. Interest is
on top of that.
> Allow new loans to clear balances of existing loans (Top Up Loans)
> ------------------------------------------------------------------
>
> Key: FINERACT-131
> URL: https://issues.apache.org/jira/browse/FINERACT-131
> Project: Apache Fineract
> Issue Type: Improvement
> Reporter: Dayna Harp
> Assignee: Markus Geiss
> Priority: Minor
>
> https://mifosforge.jira.com/browse/MIFOSX-439
> Essentially this is a very straight forward implementation of the top-up
> loans principle, whereby the current loan will be paid off using the balance
> of the top up loan (once approved/disbursed). The disbursed amount of the
> top-up loan will therefore be reduced by the outstanding balance (P+I) of the
> old loan. The remainder is treated as a completely new product with a new
> schedule.
> A proposed way to implement this might be to specify whether a certain
> product is eligible for topping up and if so, to pull in a list of active
> loans from the same client as part of the loan template when setting up the
> product.
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