Łukasz Wójcik created FINERACT-1569:
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Summary: Interests are excessively accrued for the whole period
despite early full repayment
Key: FINERACT-1569
URL: https://issues.apache.org/jira/browse/FINERACT-1569
Project: Apache Fineract
Issue Type: Bug
Components: Loan
Affects Versions: 1.5.0
Reporter: Łukasz Wójcik
Attachments: image-2022-04-07-10-40-57-593.png,
image-2022-04-07-10-45-16-566.png, image-2022-04-07-10-46-12-820.png,
image-2022-04-07-10-47-43-640.png
Given: daily interest loan with compounding on interests
And: repayment strategy set to Principal, Interest, Penalties, Fees
And: prepay loan returning X for today
When: repayment of X is made
Then: some interests are still outstanding
And: loan is not closed
What happens under the hood is that AbstractLoanScheduleGenerator.generate()
recalculates interests for the whole loan term. For days after the transaction
date the principal becomes 0, but compounding on interests results in producing
some small amounts for each day.
`prepayLoan` calculates the interests only for period <loanStartDate,
transactionDate>. It also seems to be working fine if the repayment strategy is
`interestFirst`.
Please find the product configuration:
!image-2022-04-07-10-40-57-593.png!
and the loan:
!image-2022-04-07-10-45-16-566.png!
Prepay Loan returning 100.33 interests
!image-2022-04-07-10-46-12-820.png!
After repayment transaction (100.33 interests paid, but 13.91 more outstanding)
!image-2022-04-07-10-47-43-640.png!
We're using the `1.5.0` version, but I'va managed to reproduce this issue on
fineract.dev. Here's the loan product:
[https://openmf.github.io/community-app/?baseApiUrl=https%3A%2F%2Fdemo.fineract.dev&tenantIdentifier=default#/viewloanproduct/27]and
the loan:
[https://openmf.github.io/community-app/?baseApiUrl=https%3A%2F%2Fdemo.fineract.dev&tenantIdentifier=default#/viewloanaccount/62]
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