Is it possible during loan account creation to have the loan term get
auto-calculated after # of repayments and repayment frequency has been
specified.
It seems like a redundant step for users to have to manually fill in both
these values and make sure they match up (or at least ensure the # of
repayments doesn't exceed the term.)
Is the reason why we have the ability to set the term independent of # of
installments for those MFIs who calculate flat interest on a term longer
than the repayment schedule?
In the case of declining balance loans, what matters is the # of repayments
and the term doesn't really have any effect.
But in the case of flat interest loans, we wouldn't necessarily want to
force the # of repayments to match the term.
However, more often than not won't the MFI want # of repayments to match
the term and we don't want the user to do extra work. I realize we weren't
adding constraints initially but this area of flexibility seems to create
more work for the system user.
In Mifos you simply specified the frequency of repayments and the # of
installments.
but in Mifos X you can specify independently for example:
Term: 52 weeks
# of Repayments: 12
Repaid every: 2 weeks
Forgive me if I'm missing something obvious...
Ed
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