Title: Message Title
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Client makes a repayment for a loan, but they pay too much. Reversing the entire transaction is therefore not the way to go. Alternatively only the amount overpaid should be given to the client. In general the institution wants to be able to withdraw funds from an active loan. When a loan is overpaid this is already possible using refund functionality. There is a need for withdrawing from an active loan.
The refund functionality for an active loan enables overpaid amount to be refunded to a client. Overpaid amount here is the actual total repayment so far less the expected total repayment made.
Use case 1
A client takes a loan and the first repayment date is 01/01/2014, for a period of 6 months with monthly installment of $100 i.e. total loan amount is $600. The client has made installment of $420.
As of 03/03/2014
Expected repayment about = $300
Actual repayment amount = $420
Maximum refund amount = $420 - $300 = $120
Use case 1 2
A client takes a loan and the first repayment date is 01/01/2014, for a period of 6 months with monthly installment of $100 i.e. total loan amount is $600. The client has made an installment of $400.
As of 03/03/2014
Expected repayment about = $300
Actual repayment amount = $400
Maximum refund amount = $400 - $300 = $100
Use case 2 3
A client takes a loan and the first repayment date is 01/01/2014, for a period of 6 months with monthly installment of $100 i.e. total loan amount is $600. The client has made a total repayment of $300.
As of 03/03/2014
Expected repayment about = $300
Actual repayment amount = $300
Maximum refund amount = $300 - $ 300 = $0
Client is not entitled to any refund
Use case 3 4
A client takes a loan and the first repayment date is 01/01/2014, for a period of 6 months with monthly installment of $100 i.e. total loan amount is $600. The client has made a total repayment of $200.
As of 03/03/2014
Expected repayment about = $300
Actual repayment amount = $200
Maximum refund amount = $200 - $ 300 = - $100
Client is not entitled to any refund and to pay $100
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