Hello,
We are facing an issue with the last installment payment when the last
payment is received a few days late.
The final installment is received on 22nd May instead of 20th May, but the
system doesn’t allow me apply the repayment on 22nd May but only for 20th
May.
My repayment schedule is as below:
*#*
*Days*
*Date*
*Paid Date*
*Principal Due*
*Balance of Loan*
*Interest*
*Fees*
*Penalties*
*Due*
*Paid*
*In Advance*
*Late*
*Outstanding*
21 February 2017
100,000
2,300
2,300
2,300
1
28
21 March 2017
20 March 2017
32,600
67,400
2,233
0
0
34,833
34,833
34,833
0
0
2
31
21 April 2017
21 April 2017
33,328
34,072
1,505
0
0
34,833
34,833
0
0
0
3
29
20 May 2017
34,072
0
736
0
0
34,808
0
0
0
34,808
*88*
*Total*
*100,000*
*4,474*
*2,300*
*0*
*106,774*
*71,966*
*34,833*
*0*
*34,808*
Account Configuration is as below:
payment Strategy
Interest, Principal, Penalties, Fees Order
Repayments
3 every 1 Months on
Amortization
Equal installments
Interest
26.8008 per annum (26.8008% Per year) - Declining Balance
Grace: On Principal Payment
Grace: On Interest Payment
Grace on Arrears Ageing
Fund Source
KNAB Internal Fund
Interest Free Period
Interest Calculation Period
Daily
Allow Partial Interest Calcualtion with same as repayment
false
Interest Type
Declining Balance
Submitted on
21 February 2017
Approved on
21 February 2017
Disbursed on
21 February 2017
Matures on
20 May 2017
Recalculate Interest
Yes
Days in year
360 Days
Days in month
30 Days
Interest recalculation compounding on
None
Advance payments adjustment type
Reschedule next repayments
Frequency for recalculate Outstanding Principal
Monthly on day 21
Variable Installments Allowed
true
Gap between Installments
(Min:1 Days , Max:100 Days)
Kind Regards,
Thomas Varghese
*thoma...@knabfinance.com <thoma...@knabfinance.com>* | www.knabfinance.com
<https://www.knabfinance.com/>| *www.linkedin.com/in/thomasbglr
<http://www.linkedin.com/in/thomasbglr>*
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