1. Create loan product with following datasets,
Terms vary based on loan cycle : false
Principal: 10,000 ( Min: , Max : )
Number of Repayments: 12 ( Min: , Max)
Repay Every: 1 Months
Nominal Interest Rate: 1 ( Min: , Max) Per month
Minimum days between disbursal and first repayment date
Amortization Equal installments
Interest Method Declining Balance
Interest Calculation Period Daily
Repayment Strategy Overdue/Due Fee/Int,Principal
Days in year Actual
Days in month Actual
Principal Threshold (%) for Last Instalment 0
Allow fixing of the installment amount No
Variable Installments (Min:0 , Max:365)
Recalculate Interest Yes
Advance payments adjustment type Reduce number of installments
Pre-closure interest calculation rule Calculate till pre closure date
Interest recalculation compounding on None
Frequency for recalculate Outstanding Principal Daily
Frequency Interval for recalculation 1
Frequency Date for recalculation 01 October 2015
Is Arrears recognization based on original schedule No
2. Create a client and submit new loan application on 01 October 2015.
3. Click on More -> Edit repayment schedule in which delete repayment for 01 November 2015 and click on validate and submit button.
4. Approve and disburse loan on 01 October 2015.
5. Make repayment on 15 December 2015.
> In Overdue/Due Fee/Int,Principal repayment strategy one entry on 15 December 2015 should get created, which is not getting getting created.
> Interest should get calculated upto 14 December 2015. (Disbursement date 01 October 2015 and first repayment is doing on 15 December 2015).