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Subject
Re: [Mifos-functional
Hi Arpita,
Thanks for the reply. I just tried a flat rate loan on the Mifos demo
server: $1000 @ 10% for 20 weeks. The repayment schedule yielded 20
payments of $52 each which is 4%. The 10% x 20 weeks/52 weeks equals
3.85% rounding to 4%. So it seems on the demo server the entered flat
rate i
Hi Jeff,
1. Mifos has 3 ways of calculating interest: Flat Rate, Declining Balance
Method and Declining Balance-Equal Principal Installment.
If an MFI uses Flat Rate of interest, then the interest rate is charged
irrespective of the period. Grameen Koota, a Bangalore based MFI using
Mifos have use
Let me try again. Sorry, but I incorrectly described how Mifos expects
the interest rate to be entered. However, I still desire help with how
best to handle my MFI client's service charge/interest rate. SEM charges
a flat rate, say 10%, of the loan amount. That's 10% of the total loan
amount re
Hello everyone, my name is Jeff Blue. I'm a programmer looking at Mifos
for SEM, an MFI in Senegal, Africa (http://www.sem-fund.org/).
One aspect of Mifos that would be potentially confusing to SEM's loan
officers and a likely cause of data entry errors is the way the loan
interest rate is ente
