subramanyasn created FINERACT-235:
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Summary: For flat loan with variable instllment, foreclosure
before first repayment date is collecting full month interest
Key: FINERACT-235
URL: https://issues.apache.org/jira/browse/FINERACT-235
Project: Apache Fineract
Issue Type: Bug
Components: Loan
Reporter: subramanyasn
Assignee: Markus Geiss
1. Create loan product with following datasets
Principal: 10000,
ROI: 12% pa
Loan term 12 months,
Repaid every: 1 month,
Amortization: Equal Installments
Interest method: Flat
Variable installment checked.
2. Submit new loan application on 01 January 2016, expected disbursement date
01 January 2016.
3. Edit repayment schedule and change first repayment date from 01 February
2016 to 15 January 2016.
4. Disburse loan on 15 January 2016.
Foreclose loan on same date.
Expected result:
It should not collect any interest if the foreclosed date is same as
disbursement date.
Actual result:
It is collecting one month interest.
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