Title: Message Title
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Hi Nayan Pramod ,
Many thanks for picking up this development, I have just checked the code quickly to see if we could implement it straight away. Unfortunately it seems that something goes a bit wrong in the rounding of the final instalment of the schedule.
Firstly I updated the loan product to round to 500's (common in Tanzania). I created an example loan of 100.000 with interest of 24% per year flat, 12 weeks with weekly repayments and no grace periods etc. The resulting schedule then expects a total principal of 102.000 (more than the loan size). I have attached the resulting schedule to this item.
Secondly, would it be possible to make sure the initial instalments are higher and then the final one is rounded down instead of lower initial instalments and a higher final one? We have seen cases where the clients would go in arrears during the final week of their loan because they would just pay what they are 'used to' instead of the (higher) remainder. This would lead to unnecessary arrears.
Let me know if I can assist you any further in testing/investigating this item.
Sander
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