Dear All, for the version i am using (17.07.01) this is not possible, so after the loan is disbursed, i edit the table m_loan_repayment_schedule How i do it if the loan is 60 months but i want quarterly P and monthly Interest i set the loan for 60 months with Monthly P & I payments
once all is done and after disbursement, then i edit the table and lump the Principal amounts into quarterly amounts My Kind Regards Francis Guchie Kirago On Fri, Jul 5, 2019 at 1:01 AM Jun King Miñon <j...@pearlpay.io> wrote: > Hi Everyone, > > I would like to know if someone has implemented a loan product of type *N > principal and monthly interest*. For example, I have a product to > implement: *Quarterly principal and monthly interest*. > > *Principal amount*: 1,000,000 (1M) > *Annual Interest Rate*: 16% > *Loan term*: 60 months (or 1800 days) > *Payment frequency*: every 30 days > > So basically, since the total loan term is 60 months and only *quarterly > principal *which means a total of (60 / 3) principal payments = 20 thus > 1M/20 = 50,000. Thus every quarter the client has to pay 50,000 plus the > interest for that month. Then declining balance interest method will still > be used. > > For simplicity, you can see the repayment schedule as follows: > > *Note: This is an actual repayment sheet from our client.* > > Date Schedule Principal Balance Principal Interest Amt. > 07/13/2019 - St > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='07/13/2019';document.paymentform_a.submit();> > 1,000,000.00 13,333.33 13,333.33 > 08/12/2019 - M > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='08/12/2019';document.paymentform_a.submit();> > 1,000,000.00 13,333.33 13,333.33 > 09/11/2019 - W > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='09/11/2019';document.paymentform_a.submit();> > 1,000,000.00 50,000.00 13,333.33 63,333.33 > 10/11/2019 - F > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='10/11/2019';document.paymentform_a.submit();> > 950,000.00 12,666.66 12,666.66 > 11/10/2019 - Sn > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='11/10/2019';document.paymentform_a.submit();> > 950,000.00 12,666.66 12,666.66 > 12/10/2019 - T > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='12/10/2019';document.paymentform_a.submit();> > 950,000.00 50,000.00 12,666.66 62,666.66 > 01/09/2020 - H > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='01/09/2020';document.paymentform_a.submit();> > 900,000.00 12,000.00 12,000.00 > 02/08/2020 - St > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='02/08/2020';document.paymentform_a.submit();> > 900,000.00 12,000.00 12,000.00 > 03/09/2020 - M > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='03/09/2020';document.paymentform_a.submit();> > 900,000.00 50,000.00 12,000.00 62,000.00 > 04/08/2020 - W > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='04/08/2020';document.paymentform_a.submit();> > 850,000.00 11,333.33 11,333.33 > 05/08/2020 - F > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='05/08/2020';document.paymentform_a.submit();> > 850,000.00 11,333.33 11,333.33 > 06/07/2020 - Sn > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='06/07/2020';document.paymentform_a.submit();> > 850,000.00 50,000.00 11,333.33 61,333.33 > 07/07/2020 - T > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='07/07/2020';document.paymentform_a.submit();> > 800,000.00 10,666.66 10,666.66 > 08/06/2020 - H > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='08/06/2020';document.paymentform_a.submit();> > 800,000.00 10,666.66 10,666.66 > 09/05/2020 - St > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='09/05/2020';document.paymentform_a.submit();> > 800,000.00 50,000.00 10,666.66 60,666.66 > 10/05/2020 - M > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='10/05/2020';document.paymentform_a.submit();> > 750,000.00 10,000.00 10,000.00 > 11/04/2020 - W > <http://localhost:81/webloan/javascript:document.paymentform_a.payment_date.value='11/04/2020';document.paymentform_a.submit();> > 750,000.00 10,000.00 10,000.00 > > Now, I am kind of confused how can I set this up on Mifos. I am looking on > declining balance interest per quarter and equal principal payments per > quarter. Is this possible on the current Mifos system? > > Thank you in advance and cheers! > > Regards, > > Jun King P. Miñon > Consultant Software Engineer > Core Banking Solutions > > > PEARLPAY INC. > > 2nd Floor, 22 The Jupiter Center, Jupiter Street, Makati, 1209 Metro > Manila, Philippines > > https://www.pearlpay.com > https://www.linkedin.com/company/pearlpay > https://www.facebook.com/PearlPayOFFICIAL > > This email and any files transmitted with it are confidential and intended > solely for the use of the individual or entity to whom they are addressed. > If you have received this email in error please notify the system manager. > This message contains confidential information and is intended only for the > individual named. If you are not the named addressee you should not > disseminate, distribute or copy this e-mail. 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