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http://mifosforge.jira.com/browse/MIFOS-5124?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
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keithwoodlock updated MIFOS-5124:
---------------------------------
Summary: Interest rebate: interest on loan recalulated at end of loan to
determine if rebate should occur (was: End of loan interest recalculation)
> Interest rebate: interest on loan recalulated at end of loan to determine if
> rebate should occur
> ------------------------------------------------------------------------------------------------
>
> Key: MIFOS-5124
> URL: http://mifosforge.jira.com/browse/MIFOS-5124
> Project: mifos
> Issue Type: New Feature
> Components: Loan Account
> Affects Versions: Release 2.2
> Reporter: keithwoodlock
> Assignee: mifosdeveloperqueue
> Priority: Major
> Labels: creocore
> Fix For: Unscheduled
>
>
> Henrik from CreoCore noted this as important.
> We'd like to reward people who pay their loans off early, or who made some
> payments which were larger than the planned/scheduled
> payments. We're seeing some entrepreneurs paying on different dates than
> scheduled, and paying amounts which are smaller or greater than the
> agreed-upon repayment schedule.
> This is probably because we don't have groups and therefore no group meetings
> ( == collection times). So when a
> loan is paid off, it would be nice to have a feature to do an alternative
> computation of the interest, based on an equivalent daily interest rate.
> I.e., this would take into account when the entrepreneur paid a little early,
> a little late, a little too much, or too little. If this alternative
> computation resulted in less interest than what the entrepreneur actually
> paid (which was based on the agreed-upon amortization schedule when the loan
> was given), then we want to give the entrepreneur a refund of the
> difference.
> Similar (but different) type request is MIFOS-2996
> MIFOS-3305 is closely related to the 'refund' if overpayment notion expressed
> here.
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