Hello once again Sangamesh So I am unable to login to the demo server using the widely known login credentials. I am getting incorrect password error message.
However I have looked at the screenshots you shared and I have some clarifications to make regarding our products and some questions to ask regarding the FD product you set up and the interest posted in the accounts So we have a single product with three different amount categories all of them with the same 6 month duration. 360,000 to 4,999,999.99 at 180% per annum 5,000,000 to 49,999,999.99 at 120% per annum 50,000,000.00 and above at 60% per annum. For all the above interests are paid monthly. And yes we pay less interest for higher deposits. Our monthly interest don't vary. It the same exact amount we pay for each month until the end of the FD. If an account is opened on the 12th of July with a deposit of 360,000 we will pay an interest of 54,000 on 12th Aug, 12th September, 12 October, 12th November, 12th December and 12th January. Because we have customers opening FD accounts in different days of the month we pay interest into different accounts daily all through the month. So my questions are 1) Looking at the screenshots you shared, I see that the interest varied from month to month. Why is this? A major selling point for us is that our customers know apriori how much interest they'd be earning from us monthly and that Interest is fixed and doesn't vary from month to month 2) Out of the box, Is mifos able to post FD interest daily as they become die for different accounts? 3) How can a properly set up an FD product to cover the three Amount Grouping which we offer? Thank you for your time. 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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