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We need to create a table to keep all loan provision categories.The table name is 'm_loanproduct_provision_category''. The table definition is defined below. The category names will vary based customer to customer.
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Now how to associate loan provision to a product? In create loan product screen, we have the option to enable loan loss provision as shown in mock up screen below
All provision categories from 'm_loanproduct_provision_category' table will shown in this screen. User can add each category and provide all the information related to itMFI can choose each category one by one and can add it to the loan product. MFI can choose minimum and maximum over dues in days and can provide provision percentage differently for each loan product. Both Liability & Expense combos will have all GL accounts. So user MFI can choose liability and & expense accounts from them. Product Loan Provision information against each provision category differently,
Once the new loan product form is submitted, product loan provision details will be stored in 'm_loanproduct_provision_details'. The table definition is defined below.
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| id | loanproduct_id | category_id | min_age | max_age | provision_percentage | liability_account | expense_account | created_by | created_on | modified_by | modified_by |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 10345 | 1 | 0 | 0 | 5 | abcd account | dcba account | Nazeer | 31-Dec-2014 | Vishwas | 10-Jan-2015 |
| 2 | 10345 | 2 | 30 | 60 | 20 | abcd account | dcba account | Nazeer | 31-Dec-2014 | Vishwas | 10-Jan-2015 |
| 3 | 10345 | 3 | 60 | 180 | 50 | abcd account | dcba account | Nazeer | 31-Dec-2014 | Vishwas | 10-Jan-2015 |
| 4 | 10345 | 4 | 180 | 360 | 90 | abcd account | dcba account | Nazeer | 31-Dec-2014 | Vishwas | 10-Jan-2015 |
While editing the loan product, persisted provision details will be restored in the edit loan product screen
Provision Calculation For Loan:
By using the following query we can get all active loan ids along with product id, number of overdue in days overdue, outstanding loan balance, provision category id, provision percentage, due date
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