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How to Calculate Interest on Unpaid Principal and Unpaid Interest on the Loan Where the Tenure is Completed ? (Doc ID 2631813.1)

Last updated on JANUARY 23, 2020

Applies to:

Oracle Loans - Version 12 and later
Information in this document applies to any platform.

Goal

How to Calculate Interest on Unpaid Principal and Unpaid Interest on the Loan Where the Tenure is Completed ?

Example:

--Loan Start Date = 01-OCT-2019
--Loan Maturity Date = 01-DEC-2019
--Total Loan Tenure = 2 months with Normal Interest = 10%
--Total Number of Monthly Installments = 2
--Total Number of Unpaid Monthly Installments = 2
--Every month, based on Due Date, Principal and Interest Demand is generated till last tenure period. But the borrower did not make any single payment for entire loan amount.
--Now the requirement is to generate Interest Demand on entire Loan Amount Due on 01-JAN-2020          
 

Solution

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In this Document
Goal
Solution


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