| Target release | Release name or number |
|---|---|
| Epic | Link to related JIRA epic or feature |
| Document status | |
| Document owner | |
| Designer | Lead designer |
| Developers | Lead developer |
| QA | Lead tester |
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There is a need to tailor loan repayments to suit the cash flow patterns of the borrower. This is especially true of products like agricultural loans where clients cash flows can be quite volatile. Consequently returns in such sectors are seasonal, unpredictable and often lower than those of the regular commercial enterprises for which MFIs disburse loans. This necessitates the need for Financial Institutions to customize loans products, which allow for more flexibility with the installment schedule.
The Variable Installment Loans feature of Mifos X accommodates this flexibility by specifying:
For a loan product:
Minimum and maximum gap that should be present between installments (minimum is mandatory, however maximum is optional)
An optional minimum installment amount
For a loan:
Allow installment due dates to be modified
Allow installment amounts to be modified (either total installment or principal portion can be modified)
Add additional installments
Validate the schedule and calculations after making these changes
| # | Title | User Story | Importance | Notes |
|---|---|---|---|---|
| 1 | Short identifier for the story | Describe the user and what they are trying to achieve | Must Have |
|
Variable Installment may be specified for loans that have either flat interest calculation or diminishing balance based interest
Any rules to be applied for a client or user when using this functionality
List of attributes to be captured for the new functionality
| Attribute | Description | Notes |
|---|---|---|
List of security areas to be considered and permissions to be added/considered for a user/role to have access to this functionality
List of new screens required
List of existing screens that need any kind of changes
Functional changes to Batch jobs that may be needed - along with suggested frequency at which it should be run for various scenarios
With sample accounting entries with dates
Include any mockups, diagrams or visual designs relating to these requirements.
List of error scenarios and the action - if message is to be displayed, then text of the message.
List of changes/enhancements/new reports to support this functionality
From a functional perspective, list of new APIs needed.
From a functional perspective, list of existing APIs that need changes.
Points to be handled during upgrades
Any reference data that needs to be prepopulated or defaulted for clients/users
Below is a list of questions to be addressed as a result of this requirements document:
| Question | Outcome |
|---|---|
| (e.g. How we make users more aware of this feature?) | Communicate the decision reached |