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https://issues.apache.org/jira/browse/FINERACT-904?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
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Robert Jakech updated FINERACT-904:
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Labels: Roadmap2022 (was: )
> Post Interest on Account Activation Date for Fixed Deposit and Recurring
> Deposit Accounts
> -----------------------------------------------------------------------------------------
>
> Key: FINERACT-904
> URL: https://issues.apache.org/jira/browse/FINERACT-904
> Project: Apache Fineract
> Issue Type: New Feature
> Components: Savings
> Affects Versions: 1.0.0, 1.1.0, 1.2.0, 1.3.0, 1.4.0
> Reporter: Airsay
> Priority: Minor
> Labels: Roadmap2022
>
> Hello,
> Presently for Savings Products (Savings/Fixed Deposit and Recurring Deposit)
> Fineract posts Interest at month end. There is a need for this to change in
> our use case (and I believe this may be widely applicable for multiple users).
> Assuming a customer's Fixed Deposit or Recurring Deposit account is activated
> on Jan 20, we post interest to the customer's account on Feb 20 and on the
> 20th of every subsequent month until the duration of the account lapses. So
> for a 6 month Fixed Deposit Account interest would be posted on Feb 20, Mar
> 20, Apr 20, May 20, June 20 and July 20.
> For "tricky" dates which don't occur across all months then interest is
> posted at the end of the month. So For example an account activated on
> January 30 will get Interest posted on Feb 28 (or Feb 29th for a leap year)
> and then Mar 30, April 30 etc. One that was activated on say August 31st will
> receive interest on Sep 30, Oct 31, Nov 30, Dec 31 etc.
>
>
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