Last updated on SEPTEMBER 23, 2016
Applies to:Oracle Loans - Version 12.1.3 and later
Information in this document applies to any platform.
How to calculate interest and principal payment on total disbursement amount even thought there is deduction of processing fee.
For Example :
1) Create one Loan of Rs 50000
2) Approved the Loan
3) Attached the event base fess (i.e. processing fees) at loan disbursement level which will be calculate @2% on disbursement amount.
Assume the processing fees amount is Rs 1000 (50000*2%).
Requirement is to pay the net amount after deduction processing fees from disbursement amount Rs 49000 (50000-1000=49000) but the interest and principle payment should be calculate on 50000 only.
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