Many of the financial institutions using Mifos X need greater flexibility and control around the repayments schedule to support agricultural loans and other products that are more suited to the cash flows of the borrower. New support for variable installment loans allows for the dates, amounts, and number of installments in the repayment schedule to be manually configured prior to loan approval.
At the product level, one can now enable variable installments, and then specify the minimum and/or maximum gap that can be present between installments.
For each loan account with this setting enabled, the following can be manually configured in the repayment schedule prior to approving the loan:
On this page: |
Go to Admin>>Product>>Loan Product>> Create Loan products
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