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https://issues.apache.org/jira/browse/FINERACT-1443?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=17492766#comment-17492766
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Manoj Mohanan commented on FINERACT-1443:
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To recover the interest which is more than the EMI, the approach which was
added before(to split the interest and add to all the remaining EMIs) is now
removed. instead, a new approach is added.
In this new approach, the interest accumulated due to the gap in schedule is
collected before any principal is collected. the interest is caped at the
current EMI.
> Reschedule loan causing wrong interest calculation of last 3-4 installments
> ---------------------------------------------------------------------------
>
> Key: FINERACT-1443
> URL: https://issues.apache.org/jira/browse/FINERACT-1443
> Project: Apache Fineract
> Issue Type: Bug
> Affects Versions: 1.8.0
> Reporter: bharath gowda
> Priority: Major
> Fix For: 1.8.0
>
> Attachments: Schedule_issue.png, loanproductconfiguration.png,
> paramters for rescheduling.png, schedule_beforeissue.png
>
>
> Reschedule loan causing wrong interest calculation of last 3-4 installments
>
>
> To reproduce,
> # Create a loan product with the configuration attached
> # Create a loan account with a disbursement date as 23-Jan-2021 and the
> First repayment date as 01-Mar-2021.
> # Approve and disburse the loan as of 23-Jan-2021.
> # Make repayment for 01-Mar-2021
> # Now reschedule the loan - CHECK SCREENSHOT FOR RESCHEDULE VALUES (make
> sure the configuration
> "is-interest-to-be-appropriated-equally-when-greater-than-EMI" is enabled.
> # Now check the schedule EMI and total interest. Total interest would be
> around 1223
> # Now make repayment for 27-Aug-2021- this will change the interest to 1450
> and a few installments EMI would be changed.
> Refer screenshots for more understanding
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