[jira] [Commented] (FINERACT-467) Request for equal installment (with equal principal and equal interest) loan schedule
[ https://issues.apache.org/jira/browse/FINERACT-467?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=16135215#comment-16135215 ] thynn win commented on FINERACT-467: The custom report won't do as it affects the balance sheet and the repayment schedule, collection sheet. We use it here as the main way to calculate interest and gives out loan. Thanks Sent from my iPhone > Request for equal installment (with equal principal and equal interest) loan > schedule > - > > Key: FINERACT-467 > URL: https://issues.apache.org/jira/browse/FINERACT-467 > Project: Apache Fineract > Issue Type: New Feature > Components: Loan > Environment: Windows >Reporter: thynn win >Assignee: Shaik Nazeer Hussain >Priority: Critical > Labels: p2 > Attachments: InterestRateCalculation-Mifos.xlsx, Request for equal > installment with equal interest and equal principal.jpg > > > For loan repayment schedule, we would like to have an option for equal > installment with equal interest and equal principal option. Please see the > attachment (left grid) for the sample schedule requested. > Currently if we make equal installment, either principal or interest will be > varying. We will arrive at the same interest total interest at the end but > our MFIs would like to have flat interest and equal principal at the same > time. > It's be immensely helpful for their borrowers to remember their balances and > interest as they are all the same every time. > Please refer to the spreadsheet. -- This message was sent by Atlassian JIRA (v6.4.14#64029)
[jira] [Commented] (FINERACT-467) Request for equal installment (with equal principal and equal interest) loan schedule
[ https://issues.apache.org/jira/browse/FINERACT-467?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=16135207#comment-16135207 ] Shaik Nazeer Hussain commented on FINERACT-467: --- [~mmyint] This approach will have effect on accrual accounting (waiving interest), interest recalculation, etc. If these calculations are only for customer review, I would suggest to have a custom report to do this job. > Request for equal installment (with equal principal and equal interest) loan > schedule > - > > Key: FINERACT-467 > URL: https://issues.apache.org/jira/browse/FINERACT-467 > Project: Apache Fineract > Issue Type: New Feature > Components: Loan > Environment: Windows >Reporter: thynn win >Assignee: Shaik Nazeer Hussain >Priority: Critical > Labels: p2 > Attachments: InterestRateCalculation-Mifos.xlsx, Request for equal > installment with equal interest and equal principal.jpg > > > For loan repayment schedule, we would like to have an option for equal > installment with equal interest and equal principal option. Please see the > attachment (left grid) for the sample schedule requested. > Currently if we make equal installment, either principal or interest will be > varying. We will arrive at the same interest total interest at the end but > our MFIs would like to have flat interest and equal principal at the same > time. > It's be immensely helpful for their borrowers to remember their balances and > interest as they are all the same every time. > Please refer to the spreadsheet. -- This message was sent by Atlassian JIRA (v6.4.14#64029)
[jira] [Commented] (FINERACT-467) Request for equal installment (with equal principal and equal interest) loan schedule
[ https://issues.apache.org/jira/browse/FINERACT-467?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=16134815#comment-16134815 ] May Myint commented on FINERACT-467: [~nazeer1100126] With declining balance, the calculation should be the same but the interest should be redistributed evenly. In the table on the left in the Excel sheet, you can see the Effected interest amount, which is calculated using Declining balance. The total interest is 30,000, which is then divided by the number of payments. 30,000/25 = 1,200. > Request for equal installment (with equal principal and equal interest) loan > schedule > - > > Key: FINERACT-467 > URL: https://issues.apache.org/jira/browse/FINERACT-467 > Project: Apache Fineract > Issue Type: New Feature > Components: Loan > Environment: Windows >Reporter: thynn win >Assignee: Shaik Nazeer Hussain >Priority: Critical > Labels: p2 > Attachments: InterestRateCalculation-Mifos.xlsx, Request for equal > installment with equal interest and equal principal.jpg > > > For loan repayment schedule, we would like to have an option for equal > installment with equal interest and equal principal option. Please see the > attachment (left grid) for the sample schedule requested. > Currently if we make equal installment, either principal or interest will be > varying. We will arrive at the same interest total interest at the end but > our MFIs would like to have flat interest and equal principal at the same > time. > It's be immensely helpful for their borrowers to remember their balances and > interest as they are all the same every time. > Please refer to the spreadsheet. -- This message was sent by Atlassian JIRA (v6.4.14#64029)
[jira] [Commented] (FINERACT-467) Request for equal installment (with equal principal and equal interest) loan schedule
[ https://issues.apache.org/jira/browse/FINERACT-467?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=16134730#comment-16134730 ] Shaik Nazeer Hussain commented on FINERACT-467: --- [~thynn] In declaining balance, the interest of all installments will vary. Can you let me know how the distribution should be done. What should happen in case of early payments or late payments? > Request for equal installment (with equal principal and equal interest) loan > schedule > - > > Key: FINERACT-467 > URL: https://issues.apache.org/jira/browse/FINERACT-467 > Project: Apache Fineract > Issue Type: New Feature > Components: Loan > Environment: Windows >Reporter: thynn win >Assignee: Shaik Nazeer Hussain >Priority: Critical > Labels: p2 > Attachments: InterestRateCalculation-Mifos.xlsx, Request for equal > installment with equal interest and equal principal.jpg > > > For loan repayment schedule, we would like to have an option for equal > installment with equal interest and equal principal option. Please see the > attachment (left grid) for the sample schedule requested. > Currently if we make equal installment, either principal or interest will be > varying. We will arrive at the same interest total interest at the end but > our MFIs would like to have flat interest and equal principal at the same > time. > It's be immensely helpful for their borrowers to remember their balances and > interest as they are all the same every time. > Please refer to the spreadsheet. -- This message was sent by Atlassian JIRA (v6.4.14#64029)
[jira] [Commented] (FINERACT-467) Request for equal installment (with equal principal and equal interest) loan schedule
[ https://issues.apache.org/jira/browse/FINERACT-467?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=16087003#comment-16087003 ] thynn win commented on FINERACT-467: K thanks. > Request for equal installment (with equal principal and equal interest) loan > schedule > - > > Key: FINERACT-467 > URL: https://issues.apache.org/jira/browse/FINERACT-467 > Project: Apache Fineract > Issue Type: New Feature > Components: Loan > Environment: Windows >Reporter: thynn win >Assignee: Markus Geiss >Priority: Critical > Labels: p2 > Attachments: InterestRateCalculation-Mifos.xlsx, Request for equal > installment with equal interest and equal principal.jpg > > > For loan repayment schedule, we would like to have an option for equal > installment with equal interest and equal principal option. Please see the > attachment (left grid) for the sample schedule requested. > Currently if we make equal installment, either principal or interest will be > varying. We will arrive at the same interest total interest at the end but > our MFIs would like to have flat interest and equal principal at the same > time. > It's be immensely helpful for their borrowers to remember their balances and > interest as they are all the same every time. > Please refer to the spreadsheet. -- This message was sent by Atlassian JIRA (v6.4.14#64029)
[jira] [Commented] (FINERACT-467) Request for equal installment (with equal principal and equal interest) loan schedule
[ https://issues.apache.org/jira/browse/FINERACT-467?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=16085659#comment-16085659 ] Santosh Math commented on FINERACT-467: --- [~thynn], this issue is not part of the current release(By tomorrow staging servers are updated). > Request for equal installment (with equal principal and equal interest) loan > schedule > - > > Key: FINERACT-467 > URL: https://issues.apache.org/jira/browse/FINERACT-467 > Project: Apache Fineract > Issue Type: New Feature > Components: Loan > Environment: Windows >Reporter: thynn win >Assignee: Markus Geiss >Priority: Critical > Labels: p2 > Attachments: InterestRateCalculation-Mifos.xlsx, Request for equal > installment with equal interest and equal principal.jpg > > > For loan repayment schedule, we would like to have an option for equal > installment with equal interest and equal principal option. Please see the > attachment (left grid) for the sample schedule requested. > Currently if we make equal installment, either principal or interest will be > varying. We will arrive at the same interest total interest at the end but > our MFIs would like to have flat interest and equal principal at the same > time. > It's be immensely helpful for their borrowers to remember their balances and > interest as they are all the same every time. > Please refer to the spreadsheet. -- This message was sent by Atlassian JIRA (v6.4.14#64029)
[jira] [Commented] (FINERACT-467) Request for equal installment (with equal principal and equal interest) loan schedule
[ https://issues.apache.org/jira/browse/FINERACT-467?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=16085067#comment-16085067 ] thynn win commented on FINERACT-467: [~santoshmath] Could we request this to be prioritized? > Request for equal installment (with equal principal and equal interest) loan > schedule > - > > Key: FINERACT-467 > URL: https://issues.apache.org/jira/browse/FINERACT-467 > Project: Apache Fineract > Issue Type: New Feature > Components: Loan > Environment: Windows >Reporter: thynn win >Assignee: Markus Geiss >Priority: Critical > Labels: p2 > Attachments: InterestRateCalculation-Mifos.xlsx, Request for equal > installment with equal interest and equal principal.jpg > > > For loan repayment schedule, we would like to have an option for equal > installment with equal interest and equal principal option. Please see the > attachment (left grid) for the sample schedule requested. > Currently if we make equal installment, either principal or interest will be > varying. We will arrive at the same interest total interest at the end but > our MFIs would like to have flat interest and equal principal at the same > time. > It's be immensely helpful for their borrowers to remember their balances and > interest as they are all the same every time. > Please refer to the spreadsheet. -- This message was sent by Atlassian JIRA (v6.4.14#64029)
[jira] [Commented] (FINERACT-467) Request for equal installment (with equal principal and equal interest) loan schedule
[ https://issues.apache.org/jira/browse/FINERACT-467?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=16071891#comment-16071891 ] thynn win commented on FINERACT-467: [~mexina] Hi, Thanks for your reply. I didn't get a notification for some reason. Well, the end result is not the same as what we expect. They want the _effect _of the declining interest rate but redistributed the differences in the installments to make them all equal amount. Their reasoning behind it is for simple people to be able to understand and we are learning that the majority of MFIs does that way. If we use equal principal and flat rate configuration (as suggested in 1073), the total is completely different. It'd come out to a different annual rate but they wish to keep the same 30%. https://demo.openmf.org/#/viewloanaccount/1198 Please review the left side of the excel spreadsheet to see the detail. Thanks again for your help. > Request for equal installment (with equal principal and equal interest) loan > schedule > - > > Key: FINERACT-467 > URL: https://issues.apache.org/jira/browse/FINERACT-467 > Project: Apache Fineract > Issue Type: New Feature > Components: Loan > Environment: Windows >Reporter: thynn win >Assignee: Markus Geiss >Priority: Critical > Labels: p2 > Attachments: InterestRateCalculation-Mifos.xlsx, Request for equal > installment with equal interest and equal principal.jpg > > > For loan repayment schedule, we would like to have an option for equal > installment with equal interest and equal principal option. Please see the > attachment (left grid) for the sample schedule requested. > Currently if we make equal installment, either principal or interest will be > varying. We will arrive at the same interest total interest at the end but > our MFIs would like to have flat interest and equal principal at the same > time. > It's be immensely helpful for their borrowers to remember their balances and > interest as they are all the same every time. > Please refer to the spreadsheet. -- This message was sent by Atlassian JIRA (v6.4.14#64029)
[jira] [Commented] (FINERACT-467) Request for equal installment (with equal principal and equal interest) loan schedule
[ https://issues.apache.org/jira/browse/FINERACT-467?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=16017003#comment-16017003 ] Mexina Daniel commented on FINERACT-467: [~thynn] See the configured loan https://demo.openmf.org/#/viewloanaccount/1073 It has equal principal and flat interest, isn't what you are looking for? > Request for equal installment (with equal principal and equal interest) loan > schedule > - > > Key: FINERACT-467 > URL: https://issues.apache.org/jira/browse/FINERACT-467 > Project: Apache Fineract > Issue Type: New Feature > Components: Loan > Environment: Windows >Reporter: thynn win >Assignee: Markus Geiss >Priority: Critical > Attachments: InterestRateCalculation-Mifos.xlsx, Request for equal > installment with equal interest and equal principal.jpg > > > For loan repayment schedule, we would like to have an option for equal > installment with equal interest and equal principal option. Please see the > attachment (left grid) for the sample schedule requested. > Currently if we make equal installment, either principal or interest will be > varying. We will arrive at the same interest total interest at the end but > our MFIs would like to have flat interest and equal principal at the same > time. > It's be immensely helpful for their borrowers to remember their balances and > interest as they are all the same every time. > Please refer to the spreadsheet. -- This message was sent by Atlassian JIRA (v6.3.15#6346)
