Payment of "Declining Balance Interest Recalculation" loan account

Test Steps

  1. Create a loan account for loan product with interest type "Declining Balance Interest Recalculation"

  2. Apply a periodic fee of 100 for each installment

  3. Approve and Disburse the loan account

  4. Do any the following payment on the fresh loan account through "Apply Payment" link available in Loan Account Details Page Or View repayment Schedule Page

Payment Day

Payment Amount

Expected Behavior

Any day before or on1st Installment Date

Grater than the 1st installment amount

1st Installment principal, interest and fee are paid and the remaining payment is made against the following installments principal

Any day before or on 1st Installment Date

Equal to 1st installment fee

1st Installment fee is paid

Any day before or on 1st Installment Date

Sum of Ist installment fee and interest

1st Installment fee and interest alone paid

Any any between 1st and 2nd Installment Date

Equal to 1st installment fee

1st Installment fee is paid, and 2nd installment interest is added with overdue interest

Any any between 1st and 2nd Installment Date

Sum of Ist installment fee and interest

1st Installment fee and interest alone paid, and 2nd installment interest is added with overdue interest

Expected Result

None

Assignee

Administrator

Reporter

Deepak Paramasivam

Test Prerequisite

loan product with interest type "Declining Balance Interest Recalculation"

Test Data

None

Automation

Automated

Result

None

Test Level

Acceptance/UI

Automated Test Name

DecliningPrincipleLoanTest

Components

Affects versions

Priority

Major
Configure