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Issue Type:
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![Dev Task]() Dev Task
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Assignee:
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Unassigned |
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Created:
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31/Jan/13 4:32 AM
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Description:
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CEDA microfinance charge fees on top of the loan if the loan is not fully repaid by the time of the maturity date.
on the maturity date of the loan
(e.g disbursement date + one year for 1 year loan), if the loan hasnt been
fully paid back by then, any outstanding balance (principal + interest
+ fees) is increased by 2.5% per month
If the maturity date is mid month like 15th or 19th then exactly 1 month from that 2.5% on outstanding balance is added to the loan as a 'late penalty' and so on every month until it is fully repaid.
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Project:
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Mifos X
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Priority:
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![Minor]() Minor
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Reporter:
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keithwoodlock
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