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https://issues.apache.org/jira/browse/FINERACT-2523?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
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Piotr Wargulak updated FINERACT-2523:
-------------------------------------
Description:
h2. Summary
The Interest Recalculation logic will modify all following installments when
over-payment is made, but for the same loan the Interest Recalculation will
only modify the last installment when Floating Rate changes.
h2. Details
A Loan with:
* Cumulative schedule;
* Equal installments;
* Declining Balance;
* Partial Interest Calculation allowed;
* Interest recalculation enabled;
* Interest recalculation - Advance payments adjustment type: {*}Reduce EMI
amount{*}.
_See attached loan-product-summary.pdf for complete summary._
_See attached FINERACT-2523.zip with mariadb dump with the Loan (user:
soldevelo/Soldevelo123!)._
h3. Before repayment
* EMI of most installments: 217.35
* Last installment: 217.32
* Floating Interest Rate changes at 1st April, by 1.5%.
_See attached floating-rate-before-repayment.pdf_
h3. After repayment
* The exact *217.35* is repaid, before due.
* EMI of most installments {*}stays the same{*}: 217.35
* Last installment changes: 206.98
_See attached floating-rate-after-repayment.pdf_
h3. After over-payment
* The exact *217.36* (0.01 more) is repaid, before due.
* EMI of the due installments changes: 216.11 (this change is bigger then 0.01
over-payment, it must include new Interest Rate)
* Last installment: 216.16
_See attached floating-rate-after-min-overpayment.pdf_
h2. Bug
The behavior in both cases should be the same. Both payments should result in a
change of following installments.
was:
h2. Summary
The Interest Recalculation logic will modify all following installments when
over-payment is made, but for the same loan the Interest Recalculation will
only modify the last installment when Floating Rate changes.
h2. Details
A Loan with:
* Cumulative schedule;
* Equal installments;
* Declining Balance;
* Partial Interest Calculation allowed;
* Interest recalculation enabled;
* Interest recalculation - Advance payments adjustment type: {*}Reduce EMI
amount{*}.
_See attached loan-product-summary.pdf for complete summary._
_See attached_
h3. Before repayment
* EMI of most installments: 217.35
* Last installment: 217.32
* Floating Interest Rate changes at 1st April, by 1.5%.
_See attached floating-rate-before-repayment.pdf_
h3. After repayment
* The exact *217.35* is repaid, before due.
* EMI of most installments {*}stays the same{*}: 217.35
* Last installment changes: 206.98
_See attached floating-rate-after-repayment.pdf_
h3. After over-payment
* The exact *217.36* (0.01 more) is repaid, before due.
* EMI of the due installments changes: 216.11 (this change is bigger then 0.01
over-payment, it must include new Interest Rate)
* Last installment: 216.16
_See attached floating-rate-after-min-overpayment.pdf_
h2. Bug
The behavior in both cases should be the same. Both payments should result in a
change of following installments.
> Inconsistent Interest Recalculation between exact repayment and over-payment
> for Cumulative Loan with Floating Rates
> --------------------------------------------------------------------------------------------------------------------
>
> Key: FINERACT-2523
> URL: https://issues.apache.org/jira/browse/FINERACT-2523
> Project: Apache Fineract
> Issue Type: Bug
> Affects Versions: 1.14.0
> Reporter: Piotr Wargulak
> Priority: Major
> Attachments: FINERACT-2523.zip,
> floating-rate-after-min-overpayment.pdf, floating-rate-after-repayment.pdf,
> floating-rate-before-repayment-1.pdf, loan-product-summary-1.pdf
>
>
> h2. Summary
> The Interest Recalculation logic will modify all following installments when
> over-payment is made, but for the same loan the Interest Recalculation will
> only modify the last installment when Floating Rate changes.
> h2. Details
> A Loan with:
> * Cumulative schedule;
> * Equal installments;
> * Declining Balance;
> * Partial Interest Calculation allowed;
> * Interest recalculation enabled;
> * Interest recalculation - Advance payments adjustment type: {*}Reduce EMI
> amount{*}.
> _See attached loan-product-summary.pdf for complete summary._
> _See attached FINERACT-2523.zip with mariadb dump with the Loan (user:
> soldevelo/Soldevelo123!)._
> h3. Before repayment
> * EMI of most installments: 217.35
> * Last installment: 217.32
> * Floating Interest Rate changes at 1st April, by 1.5%.
> _See attached floating-rate-before-repayment.pdf_
> h3. After repayment
> * The exact *217.35* is repaid, before due.
> * EMI of most installments {*}stays the same{*}: 217.35
> * Last installment changes: 206.98
> _See attached floating-rate-after-repayment.pdf_
> h3. After over-payment
> * The exact *217.36* (0.01 more) is repaid, before due.
> * EMI of the due installments changes: 216.11 (this change is bigger then
> 0.01 over-payment, it must include new Interest Rate)
> * Last installment: 216.16
> _See attached floating-rate-after-min-overpayment.pdf_
> h2. Bug
> The behavior in both cases should be the same. Both payments should result in
> a change of following installments.
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