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ASF GitHub Bot commented on FINERACT-416: ----------------------------------------- Github user MexinaD commented on the issue: https://github.com/apache/fineract/pull/436 @nazeer1100126 Can you check this > Interest to be calculated for the whole loan term given > ------------------------------------------------------- > > Key: FINERACT-416 > URL: https://issues.apache.org/jira/browse/FINERACT-416 > Project: Apache Fineract > Issue Type: Improvement > Components: Loan > Reporter: Mexina Daniel > Assignee: Markus Geiss > Priority: Critical > Labels: gsoc2017, p1 > > As for some of the MFI practise here in our country, they specify the > interest for the whole loan term given, i.e their loan product have the > interest for the whole loan term regardless of the frequency of repayment () > To accomplish this in mifos, a user has to do calculation of finding an > interest of a month/year with respect of the loan term of that specific > client. This is a very tiresome work as for a day a user can have apply many > loans and the task of calculation make the work even harder. > I was suggesting improvement in the loan product, to be able to allow the > interest rate of the whole loan term. > Example: > Loan product - Development Loan > Amount - Min: 100,000, Max:1,000,000 > Interest - 20% > Loan term - From 3months to 6months > -- This means the interest given is for any loan term the client will want to > take the loan. -- This message was sent by Atlassian JIRA (v6.4.14#64029)