Re: Issue on early repayment of loans with interest recalculation enabled

[Santosh Math]

Hi Angel,
Please share the screenshot of 'Account Detail' tab and 'Transactions' tab
so that I can explain you better.

On Mon, Jun 3, 2019 at 10:24 PM Angel Cajas  wrote:

> Hi devs,
>
>
>
> I’m doing some test with some products and I’m bringing this issue. I
> don’t know if this is the right way it should work but for me I doesn’t
> seem like it is.
>
>
>
> When I make a repayment equal or greater than the installment amount
> before the last installment date, the principal amount for the installment
> is greater and It just seems like I still have some outstanding amount left
> to pay for the installment.
>
>
>
> I’m attaching some pictures for you to see this issue.
>
>
>
> This is my loan product configuration for interest recalculation
>
>
>
>
>
>
>
> This is my original schedule, notice how I only have to pay 581.75 for the
> first installment,
>
>
>
> I make a repayment of the total installment amount one day earlier than
> expected payment day
>
>
>
> And lastly notice how even tough I already paid the total amount for the
> installment, I still continue to have some outstanding amount and this
> continues with every early repayment I make which causes my account to be
> in arrears unless I make the repayment on the expected payment date as I
> still have some outstanding amount from that installment.
>
>
>
> I think this is wrong because  if I make an early repayment with an amount
> equal or greater than the payment amount I shouldn’t have any outstanding
> amount left.
>
>
>
> I will appreciate your feedback on if this is how early repayments are
> expected to work with interest recalculation enabled.
>
>
>
> Thanks for your attention.
>
>
>
> Regards, Angel
>


-- 
Thanks & Regards

Santosh Math

*QA Engineer*

*Conflux Technologies Pvt Ltd *
| *Office*: +91-080-41208662 |

*Address*: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block,
Bengaluru, Karnataka, 560043 INDIA

Issue on early repayment of loans with interest recalculation enabled

[Angel Cajas]

Hi devs,

I'm doing some test with some products and I'm bringing this issue. I don't 
know if this is the right way it should work but for me I doesn't seem like it 
is.

When I make a repayment equal or greater than the installment amount before the 
last installment date, the principal amount for the installment is greater and 
It just seems like I still have some outstanding amount left to pay for the 
installment.

I'm attaching some pictures for you to see this issue.

This is my loan product configuration for interest recalculation
[cid:image004.jpg@01D519FA.B97775F0]



This is my original schedule, notice how I only have to pay 581.75 for the 
first installment,
[cid:image006.jpg@01D519FA.B97775F0]

I make a repayment of the total installment amount one day earlier than 
expected payment day
[cid:image008.jpg@01D519FA.B97775F0]

And lastly notice how even tough I already paid the total amount for the 
installment, I still continue to have some outstanding amount and this 
continues with every early repayment I make which causes my account to be in 
arrears unless I make the repayment on the expected payment date as I still 
have some outstanding amount from that installment.
[cid:image012.jpg@01D519FA.B97775F0]

I think this is wrong because  if I make an early repayment with an amount 
equal or greater than the payment amount I shouldn't have any outstanding 
amount left.

I will appreciate your feedback on if this is how early repayments are expected 
to work with interest recalculation enabled.

Thanks for your attention.

Regards, Angel