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http://mifosforge.jira.com/browse/MIFOS-5290?page=com.atlassian.jira.plugin.system.issuetabpanels:comment-tabpanel&focusedCommentId=71560#comment-71560
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Binny Gopinath Sreevas commented on MIFOS-5290:
-----------------------------------------------
In Mifos, if during the tenure of a loan, an additional disbursement
(topping-up of the loan) is made to the same customer, then the only option is
to close the loan account (closed-rescheduled) and to disburse another loan
with the outstanding amount + additional disbursement amount.
This makes it difficult to track the repayments for a customer easily,
especially if the MFI allows frequent top-ups based on regularity of
re-payments.
Instead, a facility is needed to add additional principal amount to outstanding
principal at any given point in time till the loan is closed. The re-payment
schedule usually get extended when additional disbursement is done.
For example:
1-Jan-2011 - Disbursed 20,000 (3 months loan, with 2 principal-only grace
periods
1-Feb-2011 - member pays interest for 20,000
1-Mar-2011 - member pays interest for 20,000
1-Apr-2011 - member pays interest for 20,000 and requests for additional 30,000
which is approved and disbursed by MFI
1-May-2011 - member pays interest for 50,000
1-Jun-2011 - member pays interest for 50,000
1-July-2011 - member pays interest for 50,000 and repays 50,000
This has the following advantages:
- the performance history of a customer on a loan can be easily viewed in Mifos
- no need to open multiple loan accounts
- accounting entries will be simpler in Mifos (i.e. no need to close loan
accounts - closed rescheduled)
> Additional disbursements
> -------------------------
>
> Key: MIFOS-5290
> URL: http://mifosforge.jira.com/browse/MIFOS-5290
> Project: mifos
> Issue Type: New Feature
> Reporter: George Iberia
> Labels: community, fina2
> Fix For: Mifos Backlog
>
> Original Estimate: 1 week, 1 day
> Remaining Estimate: 1 week, 1 day
>
> "Need facility to add disbursements to an existing loan (subject to a
> ceiling).
> Similar to a normal current account." "Workaround in Mifos is to close the
> loan in Mifos and to reopen a new loan with the new amount + closing balance
> of the closed account. Or to have the new loan disbursement as a separate
> account itself.
> It will be evaluated to see if additional disbursement can be done on an
> existing account."
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