Hi,
I can’t see any technical significance from the code either. Regards, Adi Principal Architect, <http://www.confluxtechnologies.com/> Conflux Technologies Pvt Ltd Address: #304, 2nd Floor, 7th Main Road, HRBR Layout 1st Block, Bengaluru, Karnataka, 560043 INDIA Disclaimer: The information contained in this e-mail message and any files/attachment transmitted with it is confidential and for the sole use of the intended recipient(s) or entity identified. If you are not the intended recipient, please email: <mailto:supp...@confluxtechnologies.com> supp...@confluxtechnologies.com and destroy/delete all copies and attachment thereto along with the original message. Any unauthorised review, use, disclosure, dissemination, forwarding, printing or copying of this email or any action taken in reliance on this e-mail is strictly prohibited and is unlawful. The recipient acknowledges that Conflux Technologies Private Limited or its subsidiaries and associated companies are unable to exercise control or ensure or guarantee the integrity of/over the contents of the information contained in e-mail transmissions. Before opening any attachments, please check. Finflux From: Subramanya M K [mailto:subbu...@gmail.com] Sent: 23 November 2016 12:10 To: user@fineract.incubator.apache.org; edca...@mifos.org Subject: Re: What is the purpose of the loan term vs number of repayments? Hi Ed, My view points / assumptions to have this loan term input fields is as follows; 1. The repayment start dates may vary depending on the product or at the option of the borrower. So, if this field is not an input field, the last installment may fall either beyond the actual loan end / maturity date (from the date of disbursement) or earlier to the actual loan end / maturity date. Because of which the loan contract might have some legal implications. 2. In case of Moratorium period / repayment holiday type of loans the calculation of the loan term may be wrong. (For example: consider a home loan where the borrower has requested for 5 years loan with an initial repayment holiday of 6 months. In this case actual number of installments will be 54 & not 60. So, there could be a possibility to consider the loan term as 4 & a half years (54 months) instead of 5 years.) 3. If there is a restructuring of the loan repayments due to part early payment or delayed payment, the installment term may vary leading to change in the actual end date of the loan. Thanks and Regards, M.K.Subramanya SAMVITS, India. On Tue, Nov 22, 2016 at 10:21 PM, Ed Cable <edca...@mifos.org> wrote: Hi community, Could somebody explain to me why we have an input field for loan term in addition to number of repayments. It always just seemed like an extraneous field that one manually had compute in one's head based on the number of repayments multiplied by the repayment frequency. Why I think it should be removed: 1) It's confusing to the user and extraneous 2) It also appears that it really has no bearing on the actual term of the loan as the only validation for term is that loan term frequency must match that of repayment frequency. However if you submit a loan account with a term of 24 months and 12 monthly repayments, the repayment schedule rightfully has 12 monthly installments. 3) Term is nowhere to be found in the loan product configuration, just the configuration of number of repayments. Am I missing some use case whereby a loan has a term or maturity date that's longer than the number of installments If so, shouldn't we then only make this configurable when so desired since it's an edge case. -- Ed Cable Director of Community Programs, Mifos Initiative edca...@mifos.org | Skype: edcable | Mobile: +1.484.477.8649 Collectively Creating a World of 3 Billion Maries | http://mifos.org <http://facebook.com/mifos> <http://www.twitter.com/mifos>
