[ https://issues.apache.org/jira/browse/FINERACT-893?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel ]
Manoj resolved FINERACT-893. ---------------------------- Resolution: Fixed Feature added > Fixed Deposit - Maturity instructions for rollover > -------------------------------------------------- > > Key: FINERACT-893 > URL: https://issues.apache.org/jira/browse/FINERACT-893 > Project: Apache Fineract > Issue Type: Improvement > Reporter: Manoj > Assignee: Manoj > Priority: Minor > Fix For: 1.4.0 > > Time Spent: 1h 10m > Remaining Estimate: 0h > > Fixed deposits required to have maturity instructions including rollover: > Explanation of Business Use Case per [~ippezrobert] > # MFI has a max of 1 yr Deposit Term but a client would wish to fix for 2 > yrs, so the MFI accepts this offer and manages the 2 yrs period in shifts > internally. So after the 1 yr is done, the MFI would like the rollover to be > managed automatically by the system since chances that a new FD will be > created exactly on the same date of maturity is small since an officer can > forget to check if this FD is matured or not yet a client would be counting > when the two years would end. So there needs to be a job scheduler to check > maturity date for FD and also rollover options so that it (system can take > appropriate decisions (to reinvest of just close and transfer interest and > principal to linked savings). > To be discussed: Will the system use the same account number or new one will > be created???? > # A client would like to reinvest FD voluntarily since he sees no use for his > money for some time. He then has to decides what amount or portion to > reinvest after the first maturity is expired. Option can include rollover of > principal only, rollover of principal and interest, transfer of balance to > another account (make linked account dynamic .ie ability to select loan, > shares or savings account and also a GL Account), etc > NB: > * If the selected option involves rollover, a Rollover End Date should be > entered i.e the date when you want the rollover transaction to stop. > * If the option selected in After Maturity does not involve the roll over of > interest with the principal, the option of linked account is mandatory .ie > account to which the transfer will be made at maturity. Like i said this can > be a loan, share or savings account but should belong to this client or it > can be GL Account. -- This message was sent by Atlassian Jira (v8.3.4#803005)