Hi Luis, I don't think that scenario is possible with interest calculation as daily as it is not possible to have 120 repayments with EMI as 1318 where the total interest will grow greater than the principal amount, or you sure this is the practical case?
what you can do is raise a jira ticket for the same in the following link, with full description or send an email to developer list with the same requirement, i am sure on of the expert developer related to loan schedule will get back to you on the possibilities https://issues.apache.org/jira/projects/FINERACT/issues Regards, Bharath Lead Implementation Analyst | Mifos Initiative Skype: live:cbharath4| Mobile: +91.7019636073 http://mifos.org <http://facebook.com/mifos> <http://www.twitter.com/mifos> On Tue, Mar 10, 2020 at 10:45 PM Luis Alberto Alegría de los Santos <luis.aleg...@innovar.app> wrote: > Thank you Bharath > > We need 120 installments(monthly) cause its a mortgage loan. > I create the next loan https://demo.mifos.io/#/viewloanaccount/3635, it's > has "Interest Calculation Period" as "same as repayment period". Repayment > schedule let 120 installments and equal repayments. > > But we need the same repayment schedule with a "Interest Calculation > Period"=Daily, because we let clients can do early payments, and we need > *Recalculate > Interest function, *and Reduce number of installments. > Is this posible?, because with "Interest Calculation Period" as "same as > repayment period" mifos can't recalculate interest. > > We need a repayment schedule like > https://demo.mifos.io/#/viewloanaccount/3635 and let recalculate interest > on early payments. > > Thank you > > > El lun., 9 mar. 2020 a las 23:05, Bharath Gowda (<bgo...@mifos.org>) > escribió: > >> Hi Luis, >> >> This is not an issue, it is handled exception when the configuration >> values are not proper and schedule cannot be calculated with those values. >> The error msg simply means that the interest amount of the installment is >> greater than the EMI amount. >> >> I think the issue is with the loan term, you cannot have a 150 >> installments for the principal amount of 50000, which will make the EMI >> amount lesser the interest of the EMI and system cannot generate the >> schedule for the same. >> >> >> >> >> Regards, >> Bharath >> Lead Implementation Analyst | Mifos Initiative >> Skype: live:cbharath4| Mobile: +91.7019636073 >> http://mifos.org <http://facebook.com/mifos> >> <http://www.twitter.com/mifos> >> >> >> On Tue, Mar 10, 2020 at 9:16 AM Luis Alberto Alegría de los Santos >> <luis.aleg...@innovar.app> wrote: >> >>> Hi all >>> >>> Please, someone can help me. >>> I try to create a new loan in https://demo.mifos.io/ >>> <https://demo.mifos.io/#/viewloanaccount/3629>, but I get a error and >>> can't create loan. >>> Loan has the following terms: >>> >>> - Product: DAILY PERIODS - RECALCULATION >>> - Submitted/Disbursed on 01 January 2020 >>> - Principal: 50,000 >>> - Loan term/ Number of repayments: 120 Months >>> - First repayment on 28 January 2020 >>> - Interest charged from Nominal interest rate: 30 Per year >>> - Interest calculation period : Daily >>> - Is Equal Amortization false >>> - Recalculate Interest Yes >>> - Days in year 360 Days >>> - Advance payments adjustment type: Reduce number of installments >>> - Days in month 30 Days >>> - Interest recalculation compounding on None >>> - Frequency for recalculate Outstanding Principal Daily >>> - Frequency Interval for recalculation 0 >>> >>> Im not sure is a normal function o a bug, but I loan can´t be created >>> MS Excel PMT function, get a $1,318.09 monthly repayment but system >>> throw this message on developer console: >>> [image: image.png] >>> >>> Thank you ! >>> >>> >>> -- >>> LSC. Luis Alberto Alegría de los Santos >>> INNOVARAPP >>> 2225548732 >>> >>> *La información contenida en este correo electrónico y anexos es >>> confidencial. Ésta dirigida únicamente para el uso del individuo o entidad >>> a la que fue dirigida y puede contener información propietaria que no es >>> del dominio público. Si has recibido este correo por error o no eres el >>> destinatario, por favor notificar al remitente de inmediato y borra este >>> mensaje de la computadora o dispositivo. Cualquier uso, distribución o >>> reproducción de este correo que no sea por el destinatario de intención >>> queda prohibido.* >>> _______________________________________________ >>> 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 >> > > > -- > LSC. Luis Alberto Alegría de los Santos > INNOVARAPP > 2225548732 > > *La información contenida en este correo electrónico y anexos es > confidencial. Ésta dirigida únicamente para el uso del individuo o entidad > a la que fue dirigida y puede contener información propietaria que no es > del dominio público. Si has recibido este correo por error o no eres el > destinatario, por favor notificar al remitente de inmediato y borra este > mensaje de la computadora o dispositivo. Cualquier uso, distribución o > reproducción de este correo que no sea por el destinatario de intención > queda prohibido.* > _______________________________________________ > Mifos-users mailing list > Mifos-users@lists.sourceforge.net > https://lists.sourceforge.net/lists/listinfo/mifos-users >
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