Create a loan product with following datasets
Amortization: Equal installments
Interest Method: Declining Balance
Interest Calculation Period: Same as repayment period
Allow Partial Interest Calcualation with same as repayment: true
Repayment Strategy: Overdue/Due Fee/Int,Principal
Account moves out of NPA only after all arrears have been cleared? No
Days in year: Actual
Days in month: Actual
Principal Threshold (%) for Last Instalment: 0
Allow fixing of the installment amount: No
Recalculate Interest: Yes
Advance payments adjustment type: Reduce number of installments
Pre-closure interest calculation rule: Calculate till rest frequency date
Interest recalculation compounding on: None
Frequency for recalculate Outstanding Principal: Same as repayment period
Is Arrears recognization based on original schedule: No
Principal amount 10000, with 12 % ROI per year. Repaid every 1 month.
2. Submit new loan application on 01 January 2016 approve and disburse on same date.
3. Click on prepay and enter date as 01 January 2016.
> Not able to prepay the loan displays internal server error.
Tested and working as expected