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http://mifosforge.jira.com/browse/MIFOS-5189?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=70904#comment-70904
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keithwoodlock commented on MIFOS-5189:
--------------------------------------
All I can say is that given the example in the attached spreadsheet. Mifos
supports the ability to provide that type of 'repayment schedule' with use of
'grace periods'.
A loan product with 12 installments of which first two have 'principal only
grace', Declining Blance (Equal Installments), Declining Balance, Flat, 24%
interest rate, repaid every 1 month.
A 'Moratorium' in mifos is different and can be created by 'adding a holiday of
type moratorium' in admin area. The result of this is that 'repayment
schedules' will never fall on a moratorium. e.g. its not used for restricting
principal or interest and is not taken into account either when calculating
interest owed. i.e not what you are looking for here it seems.
> 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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