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Hello team,

I am setting up/testing a loan that has the following parameters:

2. Minimum to maximum loan amount- 5,000 to 2,000,000

3. Loan term frequency – 1 to 120 (months)

4. Repayments- Monthly basis.

5. Nominal Interest Rate is determined by loan cycle:

Loan Cycle Interest rate%(monthly)

1 18

2 16

3 14

4 12

5 10

6 8

>6 6.25

>12 6

>24 5.75

>36 5

>48 4.75

>60 4.5

6. Amortization-Equal installments.

7. Interest method- Reducing Balance basis/Declining Balance.

8. Accounting method for interest – Daily Accrual basis.

9. Accounting method for Penalty – Daily Accrual basis.

10. Days in a year-365 days.

11. Days in a month- Actual.

12. Grace period before loan moves into arrears =5 days

13. Maximum number of days before a loan becomes a NPA (Non-performing

Asset)-90days

14. Processing fee- 5 % of Loan applied for.

15. Penalty charge- 5% of Loan amount + interest.

16. Repayment posting priority-charges, fees, interest, principal.

17. Interest Recalculation- Yes.

18. Interest recalculation compounding on- Fee and Interest.

19. Frequency for compounding- Same as repayment period.

20. Frequency for recalculating interest -Same as repayment period.

when I try to disburse the above loan with a previous date e.g.

01-JAN-2016, I get the following error:

"field is required

error.msg.loanschedule.emi.amount.must.be.greter.than.interest"

I am running on the latest version of mifos 16.12.01.

Please advice

Comment

**Answer** by santoshmath99
·
Feb 10, 2017 at 03:56 AM

Hi Kimani, same question you asked in mailing list?

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