Hello,
I wanted to check and see if anyone has any ideas about how to deal with
scenario below?
If not, I will likely request an enhancement.
Thanks
Milan
2010/12/1 Milan Patel <[email protected]>
> Hello,
>
> I am trying to set up a configuration in which the client is charged a
> commission fee, which is payable in installments along with the loan
> repayment.
>
>
> In this example, the fee is 7.5% of the loan amount. The loan is payable
> on a weekly basis.
>
> I originally tried to set it up in Mifos to pay 7.5% of the loan amount on
> a weekly basis; this however charges 7.5% of the original loan amount *each
> week*, instead of dividing it amongst the repayment periods.
>
> How do I divide this fee between each repayment period? It is key to note
> here that the term of the possible loan cannot be determined / preset
> beforehand--for example, if loans had to be repaid weekly over preset
> periods for 1 year (52 weeks), 1 month (4 weeks) etc., I could set a fee for
> each potential loan term and divide the percentage appropriately. However,
> my organisation does not use standard loan terms--they could have a
> repayment schedule over 7 weeks, for example. As such, the fee needs to be
> divided amongst a periodic repayment schedule, of which the number of
> periods is variable.
>
>
> Thanks
>
> Milan
>
>
>
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