Hello Sangamesh, Thank you very much for your response. You have to a large extent described one of three Amount Groups for our offering. One missing point though is that the product duration is for 6 months. So yes for a 360,000 deposit the Interest paid is 54,000 monthly for 6 months. Unfortunately I am currently unable to view your FD product and account as I am on mobile. I will view from desktop and provide appropriate feedback.
Thank you once again for your time. And thanks to Ed for copying you. Also a big Thank you to Francis for pointing me in the right direction regarding creating FD products Warm Regards Airsay Sent from my iPhone > On 13 Dec 2019, at 08:16, sangamesh n <sangameshc...@gmail.com> wrote: > > > Dear Airsay, > > As I understand your product details here: > Rate of interest = 15% per month => 15*12 = 180% per year (In mifos, we > define it for per year). > Deposit Amount = 360,000.00 > Monthly interest = 54,000.00 (This seems to be fixed monthly interest amount, > In mifos it's on number of days). > > I have created fixed deposit product and account for you to configure:- > https://demo.openmf.org/#/viewfixeddepositaccount/3692 > https://demo.openmf.org/#/viewfixeddepositproduct/608 > > Please let me know if you have any questions. > > Thanks, > Sangamesh.Nadagoudar > > > >> On Thu, Dec 12, 2019 at 7:55 PM Ed Cable <edca...@mifos.org> wrote: >> Hello Airsay, >> >> Welcome to the community! I'm cc'ing Sangamesh on this email. He should be >> able to give some advice on your configuration. >> >> Best wishes, >> >> Ed >> >>> On Thu, Dec 12, 2019, 05:32 Airsay Longcon <airsaylong...@gmail.com> wrote: >>> Hello everyone. My name is Airsay from Nigeria. I’m the branch IT lead for >>> a financial institution. We are looking to automate our processes and I’m >>> almost certain that Mifos is a good fit. I am looking to get some help and >>> advice setting up Mifos. >>> So I am trying to create a fixed deposit savings product that reflects one >>> of three fixed deposit products we have. And I'm not getting the expected >>> results and would appreciate and advice or pointers. I describe the product >>> in the following paragraph. >>> We have a 6 months Fixed Deposit product for deposits between 360,000.00 >>> and 4,999,000.00. For this product, the interest rate is 15% monthly. So >>> for someone who deposits the minimum of 360,000.00 the monthly interest is >>> 54,000.00. Interest is paid out monthly and at the end of the tenor the >>> customer can either continue or terminate the account. How do I set up a >>> Fixed Deposit Product to reflect this? >>> >>> Warm Regards >>> Airsay >>> >>> >>> >>> _______________________________________________ >>> Mifos-users mailing list >>> Mifos-users@lists.sourceforge.net >>> https://lists.sourceforge.net/lists/listinfo/mifos-users > > <6.png> > <5.png> > _______________________________________________ > Mifos-users mailing list > Mifos-users@lists.sourceforge.net > https://lists.sourceforge.net/lists/listinfo/mifos-users
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