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http://mifosforge.jira.com/browse/MIFOS-5189?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=70891#comment-70891
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keithwoodlock commented on MIFOS-5189:
--------------------------------------
This is possible today on mifos. We use 'grace periods' in mifos that can be
set on loan product and different types of 'grace' is supported (principal
only, interest only, principal + interest).
There is moratorium functionality in mifos where by you can set a moratorium
for a certain period (1-nov to 30-nov). This will result in loan repayment
dates not falling on these dates and being pushed out with no extra charging of
interest etc.
Just added that point as it might be confusing for others in mifos.
> Moratorium Functionality
> ------------------------
>
> Key: MIFOS-5189
> URL: http://mifosforge.jira.com/browse/MIFOS-5189
> Project: mifos
> Issue Type: New Feature
> Components: Functional, Loan Account
> Reporter: hugotechnologies
> Assignee: hugotechnologies
> Priority: Major
> Attachments: Moratorium_PrincipalonlyGrace_Scenarios.xlsx
>
>
> Moratorium Period is a kind of holiday on repayment which would be for the
> course period x months after the member gets it and then from the activity
> (small enterprise / business ) / start earning whichever is earlier . In
> general a period of 2 months is fixed.
> Interest would have to be paid during the moratorium, the interest servicing
> would be of based on the type of interest calculated on the loan amount
> disbursed payable monthly.
> Complete repayment schedule for various types of Interest calculations along
> with moratorium is being attached to this Issue.
> Some times some of the NGOS's will also allow a moratorium on payment of
> interest. -- But this is't a general practice we can put hold of this
> functionality as of now.
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