Hi Sr Finance, That's the best advice. @Girish, You can use specific due date charge. Read more about what type of fees
On Tue, Oct 22, 2019 at 8:50 AM Sr Finance <srfi...@gmail.com> wrote: > 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 >> > _______________________________________________ > 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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