Hi Abiy, As discussed in the following thread,
https://github.com/openMF/community-app/issues/3017 Modifying interest rate in product level and the updating the same on all existing accounts is totally impossible in Mifos. However, we have one more feature 'Floating Interest Rate' which may help you to modify interest level later. Here We define base interest rate (Ex: 9%) and floating interest rate (Ex: 0.5%) which shows interest may vary by 0.5% throughout the term. You can read more here to understand how to configure it. https://mifosforge.jira.com/wiki/spaces/docs/pages/111673386/Floating+Rate https://mifosforge.jira.com/wiki/spaces/docs/pages/111673399/How+to+provide+floating+rates On Fri, Nov 2, 2018 at 10:30 AM Abiy Atsbha <abiy...@gmail.com> wrote: > Hello Santosh, > > Yeah you are right brother. I opened a new ticket , incase the developer > team considers this. > > I understand that the current capabilitiy of MifosX is the one you > explained, But what if the MFI’ operation department or national bank of > the country forced them to increase the interest rate? > This was the issue I wanted to check. > > Can I simply change this with the MySQL SELECT & UPDATE syntax? > > Like : selecting all saving accounts created before the ammendment day and > updating with the new interest rate? > > Or anymeans we can update those accounts created before the amendment date! > > > BTW, I can’t tell you how happy I am to have such a responsive and awesome > community in MifosX. Looking forward to fully working with you. > > > Thanks and Regards, > Abiy A. > > > On Fri, Nov 2, 2018 at 6:34 AM Santosh Math < > sant...@confluxtechnologies.com> wrote: > >> Hi Abiy, >> I saw you raised the ticket related to this. >> >> https://github.com/openMF/community-app/issues/3017 >> >> However, the current behaviour is right one. Any product changes (loan, >> savings, etc) must be affected to the accounts which are created after the >> modification of product , not the one which are already existing one. >> >> On Wed, Oct 31, 2018 at 7:35 PM Abiy Atsbha <abiy...@gmail.com> wrote: >> >>> Dear Community, >>> >>> I have this issue in MifosX Release 18.03.xx. I need to post it here >>> before I open a new ticket in GitHub. >>> This is the senario I need to report. >>> >>> Lets say I have created a Saving Account 000001 with Saving Product >>> “Mandatory Saving”. Initially, The Nominal Anual Interest Rate for >>> Mandatory Saving was 5%. >>> >>> After chnage of management of other reasons by the operation, one may >>> need to increase the Interest Rate to 7%. >>> >>> The error is : >>> >>> The saving accounts created before the ammendment of new interest rate >>> are not updating their Nominal Interest Rate. It is 5% when checked in >>> viewsavingaccout page. >>> >>> But those saving accounts created after the ammendment are created with >>> 7%. >>> >>> N.B. I have checked the math with calculator. >>> >>> I believe at least from the ammendment date forwards all saving accounts >>> under that specific Saving Product should update their Nominal Anual >>> Interest Rate. >>> >>> >>> Thanks & Regards, >>> >>> Abiy A. >>> >> _______________________________________________ >>> Mifos-users mailing list >>> Mifos-users@lists.sourceforge.net >>> https://lists.sourceforge.net/lists/listinfo/mifos-users >>> >> >> >> -- >> Thanks & Regards >> >> Santosh Math >> >> *QA Engineer* >> >> *Conflux Technologies Pvt Ltd <http://www.confluxtechnologies.com/>* >> | *Office*: +91-080-41208662 | >> >> *Address*: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block, >> Bengaluru, Karnataka, 560043 INDIA >> _______________________________________________ >> Mifos-users mailing list >> Mifos-users@lists.sourceforge.net >> https://lists.sourceforge.net/lists/listinfo/mifos-users >> > _______________________________________________ > Mifos-users mailing list > Mifos-users@lists.sourceforge.net > https://lists.sourceforge.net/lists/listinfo/mifos-users > -- Thanks & Regards Santosh Math *QA Engineer* *Conflux Technologies Pvt Ltd <http://www.confluxtechnologies.com/>* | *Office*: +91-080-41208662 | *Address*: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block, Bengaluru, Karnataka, 560043 INDIA
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