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Re: Number of Installments not being correct


Hi Gayle,

Could  you share  the  client name or loan account number?

Thanks
Santosh

On Fri, Jun 22, 2018 at 3:11 PM, Gayle Congdon <Gaylec@xxxxxxxxxxx> wrote:

> Hi Ed,
>
>
>
> Hope you are well.
>
>
>
> We have come across a Mifos issue which I hope you can assist with.
>
>
>
>
>
>
>
> *Problem: *When creating a loan for 60 equal instalments on Loan Type -
> CLRC, MIFOS returns random number of instalments depending on the “Nominal
> interest rate” we provide.
>
> With “Nominal interest rate” being 0, we do receive 60 equal instalments.
> Please look at the test case below.
>
>
>
> On the demo website, I have created a Loan Type and Client to demonstrate
> your problem. Please see below for details.
>
>
>
> http://mifos.org/mifos-x/demo/
>
> *Username:* mifos
>
> *Password:* password
>
>
>
> *Client:* CLRC CLRC
>
> *Loan Product:* CLRC
>
> *Created Loan:* 2874, 2875 and 2876
>
>
>
> *Loan Terms*
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> *Principal:* 100000
>
> *Loan term:* 60
>
> *Number of repayments:* 60
>
> *Repaid every:* 1
>
> *First repayment on:* 29 June 2018
>
> *Interest charged from:* 22 June 2018
>
> *Nominal interest rate:* 27.75  Per year
>
>
>
> On the above test case, MIFOS only returns 59 instalments. Now the
> question is, what happened to the 60th instalment?
>
>
>
> Thanks so much,
>
>
>
> Kind Regards
>
>
> *Gayle Congdon *Manager – ERP, Accounting & Core Banking Systems
>
>
>
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> *+27 71 485 2543 *gaylec@xxxxxxxxxxx
>
> Tel: +27 11 617 1803
> Fax: +27 11 617 1717
> www.nupay.co.za
>
> 8 Kingfisher Crescent, Meyersdal,
> <https://maps.google.com/?q=8+Kingfisher+Crescent,+Meyersdal,+%0D%0AAlberton&entry=gmail&source=g>
> Alberton, 1448, Gauteng, South Africa
> PO Box 192, Alberton, 1450, South Africa
>
> A division of Altron TMT (Pty) Ltd with our B-BBEE rating as a level four
> contributor, allows our customers to claim 100% of spend towards their
> preferential procurement measurement for their own B-BBEE status. In
> addition, 100% of the spend is also claimable as Black Owned and Black
> Women Owned on the scorecard of our customers.
>
> This e-mail is subject to an e-mail disclaimer.
> Read email disclaimer notice: www.altron.com/email.asp
> Alternatively please contact us on +27 11 645 3600
>
>
>
>
>



-- 
Thanks & Regards

Santosh Math

*QA Engineer*

*Conflux Technologies Pvt Ltd <http://www.confluxtechnologies.com/>*
| *Office*: +91-080-41208662 |

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