Santosh Math created FINERACT-306: ------------------------------------- Summary: After Late repayment - interest is not computing properly in Repayment schedule page for the loan with interest recalculation Key: FINERACT-306 URL: https://issues.apache.org/jira/browse/FINERACT-306 Project: Apache Fineract Issue Type: Bug Components: Loan Reporter: Santosh Math Assignee: Markus Geiss
Reported by Subramanya at https://mifosforge.jira.com/browse/MIFOSX-2086 Original Description: 1. Create Loan product with following data-sets: Principal: 10,000, Number of Repayments: 12 Repay Every: 1 Months Nominal Interest Rate: 1 Per month Minimum days between disbursal and first repayment date Settings: Amortization: Equal installments Interest Method: Declining Balance Interest Calculation Period: Daily Repayment Strategy: RBI (India) Days in year: Actual Days in month: Actual Principal Threshold (%) for Last Installment: 0 Allow fixing of the installment amount:No Interest Recalculation Recalculate Interest: Yes Advance payments adjustment type: Reduce EMI amount Pre-closure interest calculation rule: Calculate till pre-closure date Interest recalculation compounding on: None Frequency for recalculate Outstanding Principal: Daily Frequency Interval for recalculation: 1 Frequency Date for recalculation: 01-Jan-15 Is Arrears recognization based on original schedule:No Loan Tranche Details Enable Multiple Disbursal: TRUE Maximum Tranche count:1 Maximum allowed outstanding balance:10000 2. Create a Client and submit new loan application for a client on 01 January 2015, with tranche details as date 01 January 2015 and amount 10000 -> Approve and disburse on 01 January 2015. 3. Make repayment on 15 February 2015 (repayment due on 01 February 2015 but made late repayment). > Interest calculated after 1st repayment is not proper. Please refer the screen shot attached. -- This message was sent by Atlassian JIRA (v6.3.4#6332)