Hi All,
I am using
Mifos-v2.2.3
MySQL-5.1
ubuntu-10.0.4
ApacheTomcat-7.0.12
I created loan product with below details
a) Interest rate type: Declining Balance
b) Frequency of installments: 1 week(s).
Created one center with Meetings: Recur every 1 Week(s) on Monday.
In that center created one group with Meetings: Recur every 1 Week(s) on
Monday.
In that group created one client with Meetings: Recur every 1 Week(s) on
Monday.
When I given loan to client repayment schedule is generated like this
Account Owner:TestClient t
Loan amount:5,000
Disbursement date:13-Feb-2012
Installment No. Due date Principal Interest Fees Total 1 20/02/12 325.7
17.3 0 343 2 27/02/12 326.9 16.1 0 343 3 05/03/12 328 15 0 343 4 12/03/12
329.1 13.9 0 343 5 19/03/12 330.3 12.7 0 343 6 26/03/12 331.4 11.6 0 343
7 02/04/12 332.5 10.5 0 343 8 09/04/12 333.7 9.3 0 343 9 16/04/12 334.8
8.2 0 343 10 23/04/12 336 7 0 343 11 30/04/12 337.1 5.9 0 343 12 07/05/12
338.3 4.7 0 343 13 14/05/12 339.5 3.5 0 343 14 21/05/12 340.6 2.4 0 343
15 28/05/12 336.1 1.9 0 338
Repayment schedule is generated weekly but it has to generate biweekly as
per loan product details.
Could you please explain me why repayment schedule is generated like this
if my understanding is correct or am I missing out on something here?
--
Thanks and Regards,
Ramesh.A.Nayak| Software Engineer @ ConfluxTechnologies | Address :#412,
20th Main,Chord Road 1st Block Rajajinagar Bengaluru,Karnataka-560010 |
Email :[email protected] | website:
www.Confluxtechnologies.com <http://www.confluxtechnologies.com/> |
Contact Number - Mob : +919739317276.
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