Lionel Raymundi created FINERACT-362:
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Summary: Configure Penalty Charge depending on loan's interest rate
Key: FINERACT-362
URL: https://issues.apache.org/jira/browse/FINERACT-362
Project: Apache Fineract
Issue Type: Improvement
Reporter: Lionel Raymundi
Assignee: Markus Geiss
Our business requirement is to charge penalties for unpaid overdued
installments as follows:
"Every overdue day, charge (installment capital) * (daily interest rate * 1.5)"
In other words, this means to penalize the overdue by charging a 50% more of
the agreed interest over the due capital.
To solve this, a new Charge Calculation type could be created. It should be
something like "% Amount of the installment * Annual nominal interest rate /
100".
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