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Given A client with a weekly meeting on a wednesday exists,
And on tues 1st Feb - a loan account is created and approved,
Then loan schedule at account creation has disbursal due on 2-feb-2011, with first installment starting from 9-feb-2011
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One difference when creating loan accounts with LSIM turned on and off is, when LSIM is turned on, loan accounts schedule must match the client meeting schedule, with LSIM turned off, for weekly it is possible to choose the frequency (e.g. 1 or 2 weeks) and also the day of the week the installment should occur on (monday - sunday etc) |
For the example below with LSIM on, I left the installment meeting happening every 1 weeks on a Wednesday just like the clients meeting.
LSIM Off
early disbursement of loan account
on tues 1st Feb - disbursed loan account (schedule at account disbursal, disbursed on 1-feb-2011, first installment starting from 2-feb-2011)
(orginal schedule is schedule after disbursement!)
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