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http://mifosforge.jira.com/browse/MIFOS-5189?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=70902#comment-70902
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hugotechnologies commented on MIFOS-5189:
-----------------------------------------
Keith,
Yeah i was aware of grace period and tried. I forgot to mention one point here.
For example Installment for loan product is 10, if i have to give 2 month
moratorium to the loan product then i have to change the overall installments
to 12 in loan product definition itself.
I was expecting to retain the installment as 10 and based on the moratorium
definition the repayment schedule will be generated with 12 installment.
This way, there is no need to elevate the loan product installment definition
with moratorium period by retaining the actual installment i.e., 10.
Lemme think, if it holds good if moratorium is also included in the overall
installment while defining the loan product. We need to also think at other
operational and other issues.
> Moratorium Functionality
> ------------------------
>
> Key: MIFOS-5189
> URL: http://mifosforge.jira.com/browse/MIFOS-5189
> Project: mifos
> Issue Type: New Feature
> Components: Functional, Loan Account
> Reporter: hugotechnologies
> Assignee: hugotechnologies
> Priority: Major
> Attachments: Moratorium_PrincipalonlyGrace_Scenarios.xlsx
>
>
> Moratorium Period is a kind of holiday on repayment which would be for the
> course period x months after the member gets it and then from the activity
> (small enterprise / business ) / start earning whichever is earlier . In
> general a period of 2 months is fixed.
> Interest would have to be paid during the moratorium, the interest servicing
> would be of based on the type of interest calculated on the loan amount
> disbursed payable monthly.
> Complete repayment schedule for various types of Interest calculations along
> with moratorium is being attached to this Issue.
> Some times some of the NGOS's will also allow a moratorium on payment of
> interest. -- But this is't a general practice we can put hold of this
> functionality as of now.
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