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http://mifosforge.jira.com/browse/MIFOS-2514?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
]
Kay Chau updated MIFOS-2514:
----------------------------
Labels: kmbi documentinfs (was: kmbi volunteer)
Epic: mifos-2999 (was: )
Scheduled For: Release
Team: Core
Fix Version/s: (was: Gazelle Backlog)
Release E
Release E - Iteration 10
Behavior should be:
When a user updates a savings product's interest rate:
1) New interest rate is reflected in savings account details of that product
2) Interest rate should take effect in the CURRENT savings calculation period.
Example:
Interest calculation: 1 month
Interest posting: 3 months
Original interest rate: 3%
Interest rate changes to 4% anytime from November 1st to November 30th.
October's interest should be calculated using 3%. November's will be
calculated using 4% and it is used for the entire month. Same is true for
December, and then interest posted at end of December is the sum of the 3
calculated.
3) If interest rate changes twice within an interest calculation period -
interest rate should be the most recent interest rate. So in the above
example, if the interest rate was changed to 4% on November 1st, and then
changed to 2% on November 30th, interest calculation for November 30th should
take use 2% interest rate.
> Make savings accounts reflect changes to savings product interest
> -----------------------------------------------------------------
>
> Key: MIFOS-2514
> URL: http://mifosforge.jira.com/browse/MIFOS-2514
> Project: mifos
> Issue Type: Bug
> Components: Savings Account
> Affects Versions: Release 1.4
> Environment: Platform: All, OS: All
> Reporter: jbrewster
> Assignee: keithwoodlock
> Priority: Major
> Fix For: Release E - Iteration 10, Release E
>
>
> Currently savings account use a fixed interest rate for posting interest - the
> interest rate of the savings product when the savings account was created.
> Enhancement request to have savings accounts adjust to the market rate when
> the
> interest rate is modified in the savings product.
> Use case:
> A few days before the scheduled interest posting, an MFI admin determines the
> current Market rate and enters that + 1% into the savings product. On the day
> that the savings interest is posted, all current active savings of that
> product
> type would use this interest posting rate (ie, whatever is currently set at
> the
> product level).
> Note: Since this would be new behavior, we should confirm whether any current
> Mifos users would prefer the current implementation where savings accounts
> don't
> get updated with changes to product interest rate.
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