| Page Properties | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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- Days in Year – Actual
- Recalculate Interest? – checkbox - Null
- Rest or Frequency at which outstanding principal is recalculated – Null
- Days Calculation Basis – Actual
Database changes
1. Modifications to Loan Product (“m_product_loan”)
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| Column Name | Data Type | Description |
|---|---|---|
| days_in_month_enum | int | No of Days should be considered in loan calculation Actual or 30 days |
| days_in_year_enum | int | No of Days should be considered in loan calculation Actual or 360 or 365 or 364 |
| interest_recalculation_enabled | tinyint | Boolean flag indicates is interest recalculation required if payment not done as per the schedule. |
3. Interest Recalculation settings (m_product_loan
...
_recalculation_details)
| Column Name | Data Type | Description |
|---|---|---|
| product_id | bigint | ref m_product_loan |
| compound_type_enum | int | indicates compounding strategy
|
| reschedule reschedule_strategy_enum | int | indicates which reschedule strategy to be used on prepayment
|
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| Column Name | Data Type | Description |
|---|---|---|
| loan_id | bigint | ref m_loan |
| compound_type_enum | int | indicates compounding strategy
|
| reschedule_strategy_enum | int | indicates which reschedule strategy to be used on prepayment
|
Use cases:
1. identify recalculation : check the payment against schedule and should process recalculation in following scenarios
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