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https://issues.apache.org/jira/browse/FINERACT-362?page=com.atlassian.jira.plugin.system.issuetabpanels:all-tabpanel
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Edward Cable updated FINERACT-362:
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Labels: p2 (was: )
> Configure Penalty Charge depending on loan's interest rate
> ----------------------------------------------------------
>
> Key: FINERACT-362
> URL: https://issues.apache.org/jira/browse/FINERACT-362
> Project: Apache Fineract
> Issue Type: Improvement
> Reporter: Lionel Raymundi
> Assignee: Markus Geiss
> Labels: p2
>
> Our business requirement is to charge penalties for unpaid overdued
> installments as follows:
> "Every overdue day, charge (installment capital) * (daily interest rate *
> 1.5)"
> In other words, this means to penalize the overdue by charging a 50% more of
> the agreed interest over the due capital.
> To solve this, a new Charge Calculation type could be created. It should be
> something like "% Amount of the installment * Annual nominal interest rate /
> 100".
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