Loan Schedule Scenarios At Loan Disbursement
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
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!)
On time disbursement
on wed 2nd Feb - disbursed loan account (schedule at account disbursal, disbursed on 2-feb-2011, first installment starting from 9-feb-2011)
(orginal schedule is schedule after disbursement!)
late disbursement
on thurs 3rd Feb - disbursed loan account (schedule at account disbursal, disbursed on 3-feb-2011, first installment starting from 9-feb-2011)
(orginal schedule is schedule after disbursement!)
late disbursement
on wed 9th Feb - disbursed loan account (schedule at account disbursal, disbursed on 9-feb-2011, first installment starting from 16-feb-2011)
(orginal schedule is schedule after disbursement!)
late disbursement
on wed 10th Feb - disbursed loan account (schedule at account disbursal, disbursed on 10-feb-2011, first installment starting from 16-feb-2011)
(orginal schedule is schedule after disbursement!)
So in summary, with LSIM off, loan installments must match clients meeting schedule and the disbursement of the loan can happen any day after the account is created.
LSIM On
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 9-feb-2011)
(orginal schedule is schedule after disbursement!)
NOTE: First installment remained on 9th of feb with LSIM on but didn't for LSIM off? why?
On time disbursement
on wed 2nd Feb - disbursed loan account (schedule at account disbursal, disbursed on 2-feb-2011, first installment starting from 9-feb-2011)
(orginal schedule is schedule after disbursement!)
NOTE: exact same as LSIM off
late disbursement
on thurs 3rd Feb - disbursed loan account (schedule at account disbursal, disbursed on 3-feb-2011, first installment starting from 9-feb-2011)
(orginal schedule is schedule after disbursement!)
NOTE: exact same as LSIM off
late disbursement
on wed 9th Feb - disbursed loan account (schedule at account disbursal, disbursed on 9-feb-2011, first installment starting from 16-feb-2011)
(orginal schedule is schedule after disbursement!)
NOTE: exact same as LSIM off
late disbursement
on wed 10th Feb - disbursed loan account (schedule at account disbursal, disbursed on 10-feb-2011, first installment starting from 16-feb-2011)
(orginal schedule is schedule after disbursement!)
NOTE: exact same as LSIM off