Santosh Math created FINERACT-322:
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Summary: Rewarding Early Repayment
Key: FINERACT-322
URL: https://issues.apache.org/jira/browse/FINERACT-322
Project: Apache Fineract
Issue Type: Bug
Components: Loan
Reporter: Santosh Math
Assignee: Markus Geiss
Reported by Shepard Chihoro at https://mifosforge.jira.com/browse/MIFOSX-2520
Original Description:
MIFOSX does not reward customers who make early repayments on a flat interest
calculation method.My normal client contract is has a maximum repayment period
of 6 months and a minimum repayment period of 3 months.On disbursement,MIFOSX
calculates the interest for the entire 6 months and makes principal and
interest for 6 months outstanding.In the event that the customer repays the
full principal in 3 months,the customer`s account remains with 3 months
interest due.I would like to see interest outstanding being stopped once the
principal has been repaid in full.
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