Thanx Keith Any work around? Possibly add the balance as a misc fee, so as to bring the figure to that of flat interest calculation?? Let me know what you think
Tx On Feb 24, 5:33 pm, Keith Woodlock <[email protected]> wrote: > Thomas, > > You are correct. Interest Recalculation is done based on 'days'. As > such you will see some differences between monthly calculated figures. > > Keith. > > > > On Fri, Feb 24, 2012 at 2:01 PM, Thomas (Uganda) <[email protected]> wrote: > > Hi, thanx for the reply. > > The Interest rate is 10% per month (120% per annum), > > Loan Product is setup for Monthly Repaymnt is Monthly. > > > My feeling is that mifos's Declining Balance- Interest Recalculation > > is calculating, Interest PER DAY and not PER MONTH hence the variance > > in figures from that of Flat interest rate type. > > Could there be a work around or any pointers on setting i could be > > doing wrong > > > Below r the Loans Setting, Sorry for the messy attachment. > > > Tx in advance > > > ************************************************************************************************************************************ > > MPL LOAN PRODUCT Edit Loan product information. > > Active > > Loan product details. > > Product instance name: Member Of Parliament > > Short name: MPL > > > Description > > Loan for Members of Parliament > > > Product category: Other > > Start date: 01/01/2005 > > End date: > > Applicable for: Clients > > Include in Loan cycle counter: No > > Can waive interest on repay loan: Yes > > Calculate Loan Amount as: Same for all loans > > Min loan amount Max loan amount Default amount > > 0.0 100000000.0 0.0 > > Associated Question Groups : > > > Interest rate > > Interest rate type: Declining Balance-Interest Recalculation > > Max Interest rate: 999.0 % > > Min Interest rate: 0.0 % > > Default Interest rate: 120.0 % > > Repayment schedule > > Can configure variable installments: No > > Compare with Cash Flow: No > > Frequency of installments: 1 month(s) > > Calculate # of Installments as: Same for all Loans > > Min # of installments Max # of installments Default # of > > installments > > 1 100 1 > > > Grace period type: None > > Grace period duration: 0 installments > > Fees > > > ************************************************************************************************************************************ > > > On Feb 24, 12:27 pm, Intrasoft Technologies <[email protected]> > > wrote: > >> Hello Thomas; > > >> Is the interest rate 10% or 120%, you have indicated 120 in your email but > >> just when you calculate the percentage simply to get repayment of > >> 2,200,000/= from a loan of 2,000,000 the rate is 10. Declining balance will > >> be different from Flat if there are more than one installment which is not > >> your case here. > > >> I have a feeling the mismatch comes with the product setup, what is the > >> frequency of installment set in the product? > > >> Is it possible you share snapshot of product information? > > >> Regards; > > >> -- > >> ****** > >> *INTRASOFT TECHNOLOGIES | B8, KIGLESS HSE MOI AVENUE > >> **P.O. BOX 82298 - 80100 Mombasa Kenya. > >> Tel:+254 20 267 0011/ Cell:+254 734 138478 > >> Email: **[email protected]* <[email protected]> > > >> ------------------------------------------------------------------------------ > >> Virtualization & Cloud Management Using Capacity Planning > >> Cloud computing makes use of virtualization - but cloud computing > >> also focuses on allowing computing to be delivered as a > >> service.http://www.accelacomm.com/jaw/sfnl/114/51521223/ > > >> _______________________________________________ > >> Mifos-users mailing list > >> [email protected]https://lists.sourceforge.net/lists/listinfo/mifos-users > > > ------------------------------------------------------------------------------ > > Virtualization & Cloud Management Using Capacity Planning > > Cloud computing makes use of virtualization - but cloud computing > > also focuses on allowing computing to be delivered as a service. > >http://www.accelacomm.com/jaw/sfnl/114/51521223/ > > _______________________________________________ > > Mifos-users mailing list > > [email protected] > >https://lists.sourceforge.net/lists/listinfo/mifos-users > > ------------------------------------------------------------------------------ > Virtualization & Cloud Management Using Capacity Planning > Cloud computing makes use of virtualization - but cloud computing > also focuses on allowing computing to be delivered as a > service.http://www.accelacomm.com/jaw/sfnl/114/51521223/ > _______________________________________________ > Mifos-users mailing list > [email protected]https://lists.sourceforge.net/lists/listinfo/mifos-users ------------------------------------------------------------------------------ Virtualization & Cloud Management Using Capacity Planning Cloud computing makes use of virtualization - but cloud computing also focuses on allowing computing to be delivered as a service. http://www.accelacomm.com/jaw/sfnl/114/51521223/ _______________________________________________ Mifos-users mailing list [email protected] https://lists.sourceforge.net/lists/listinfo/mifos-users
