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The proposed technical solution to implement this requirement.
Add a new interest calculation method type called “Minimum Monthly Balance” which should support interest calculation for compounding period “Monthly”. (other compounding periods "Quarterly", "Half-Yearly" and "Yearly" are in development once they are done need to extend this feature to new compounding periods).
Data base changes#
1. m_savings_product : Add two fields to capture “from day” and “to day” details to find minimum balance between these two days in a month.
a. balance_from_day SMALLINT (5) NULL DEFAULT NULL
b. balance_to_day SMALLINT (5) NULL DEFAULT NULL
2. m_savings_account : Add two fields to capture “from day” and “to day” details to find minimum balance between these two days in a month.
a. balance_from_day SMALLINT (5) NULL DEFAULT NULL
b. balance_to_day SMALLINT (5) NULL DEFAULT NULL
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Java changes#
Add a new value “MINIMUM_MONTHLY_BALANCE” to enum SavingsInterestCalculationType.
Add a new method in MonthlyCompoundingPeriod .calculateUsingMinimumMonthlyBalanceMethod() to calculate the interest.
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MIFOSX-1092
