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https://issues.apache.org/jira/browse/FINERACT-1958?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=17783151#comment-17783151
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John Ruhiu commented on FINERACT-1958:
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[~mdallos] I think the interest calculation is a bit off, see attached
screenshot. Have a look and add some notes here if this is the expected
behavior.
The current behavior for loans with no downpayment is to base the interest on
principal balance. Therefore in this loan account with a principal of 12k, rate
=5% per month and term = 6 months the expected interest values should be as
shown in the screenshot !Screenshot 2023-11-06 at 12.22.50.png!
> Down payment
> ------------
>
> Key: FINERACT-1958
> URL: https://issues.apache.org/jira/browse/FINERACT-1958
> Project: Apache Fineract
> Issue Type: New Feature
> Reporter: Mihaly Dallos
> Assignee: Mihaly Dallos
> Priority: Major
> Labels: PepperSoup
> Fix For: 1.10.0
>
> Attachments: Screenshot 2023-11-06 at 12.22.50.png
>
>
> {panel}
> *As a* user
> *I want to* be able to configure the down-payment option for the
> disbursements at the loan product level
> *in order to* collect the down-payment amount at the time of disbursement.
> {panel}
> h4. *Background and details:*
> Based on the loan product configuration it should be possible to collect same
> day payment as the first instalment.
> It should allow to collect multiple down payments for multiple disbursements
> of the same account.
> *Notes/Assumptions*
> # Down-payments are similar to Instalments in the system where amount
> allocations, repayment fulfilment works same as Instalment
> # Down-payment will be treated as an Instalment during calculation of
> overdue, arrears and delinquencies
> # When Payment allocation is introduced - repayment on down-payments will
> follow as per the new allocations
> # Specified due-date charges when added will be allocated to the next
> down-payment or instalment
> # When the second disbursement is reversed - the down-payment also will be
> reversed
> # It will be possible to reschedule the down-payments same as Instalments
> # Down-payment once enabled for loan product- it will be applied for all
> loan accounts of that product and all disbursements of those loan accounts
> # Down-payment % once defined at the loan product - the same % will applied
> to all disbursements of those loan accounts
> # Charge-back if applied on one of the repayments - the charge-back amount
> will be added to the next down-payment or Instalment which ever is next
> {panel:title=*Acceptance criteria*}
> # As a user I should be able to configure the down-payment option at the
> loan product level
> ## Down-payment can be configured to be collected at %[ ] amount of
> disbursement amount
> ## Option to collect down-payment automatically or should be collected
> manually by the user should be available (automatic repayment of down-payment
> [V] ){panel}
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