Interest run and rest with time, it is not treated as commodity to realise income at once, interest time based product, if you don't want lose one day interest, you create one day interest charge at the disbursements. Rajan
On Sun, 20 Oct, 2019, 4:29 PM Girish Kumar, <henagir...@gmail.com> wrote: > Dear Santosh, > I think that should not be fine for a firm, losing a days interest means > they are losing their income, I presume its a functional problem that needs > to be fine-tuned or put on for a discussion > > Dear Rajan, > > I think normally banks don't bother what the client does or don't with the > loan once it gets disbursed and it's not banks matter. once they disburse > the loan the money with them is gone and they need the interest from the > same day. I had a chat with several bank officials and its the same that > they say > > Kindly let me know whether I am rite or wrong in this case, especially for > small financial institutions a days interest means a lot. > > Say If they disburse the loan on a day and they repay it same day what the > firm is getting from it nothing, so it becomes a charitable organisation. > (Think for big amounts like 100000 +) > > Being in a financial area I think you can better know this. > > Regards > Girish > > On Sat, Oct 19, 2019 at 11:28 PM Sr Finance <srfi...@gmail.com> wrote: > >> Without using your amount even for one day, how can you expect a client >> to repay with interest, instead you may add one day interest as charge in >> loan products while disbursements. >> Rajan Sr Microfinance >> >> On Sat, 19 Oct, 2019, 5:18 PM Girish Kumar, <henagir...@gmail.com> wrote: >> >>> Hey there >>> >>> I have disbursed a loan, the config is set to interest charged from same >>> day as disbursed. the same day the loan is disbursed, still, I cannot see >>> the interest for that day (first repay date too is same as submitted and >>> disbursed) check the loan on demo site >>> >>> >>> - Pauline Wambui Chege <https://demo.openmf.org/#/viewclient/13> >>> - new loan -GK(Main Head 000003486) >>> >>> >>> * new loan -GK(#Main Head 000003486)* >>> Created a loan on the demo ( >>> https://demo.openmf.org/#/viewloanaccount/3486) >>> >>> The day its disbursed the interest should start ticking. else the firm >>> losses 1 day interest if the client comes and pays his loan. foreclosure >>> charges is not an option here. >>> >>> anyone out there knows a solution to this. >>> >>> Means the interest rate starts from the disbursement day itself (the >>> config is set so) >>> >>> This is creating havoc in my office as the management is a bit serious >>> about losing a days interest >>> >>> Regards >>> Girish >>> _______________________________________________ >>> 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 >> > _______________________________________________ > Mifos-users mailing list > Mifos-users@lists.sourceforge.net > https://lists.sourceforge.net/lists/listinfo/mifos-users >
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