My Oracle Support Banner

Why Number of Loan Installments Reduces when the EMI Repayment Date is Switched to any Subsequent Due Date ? (Doc ID 2670759.1)

Last updated on MARCH 04, 2022

Applies to:

Oracle Loans - Version 12.1.3 and later
Information in this document applies to any platform.


Why number of Loan Installments reduces when the EMI Repayment Date is switched to subsequent Due Date ?  


Loan Term = 6 months
Loan Interest Rate = 10%
EMI Payment Frequency = Monthly
Days Formula = Actual/Actual
Loan Starting Date = 01-JAN-2020
Loan Maturity Date = 01-JUL-2020
EMI Repayment Starts from 01-FEB-2020

The Borrower request the lender to set the EMI Repayment Due Date to set to 5th of every month i.e. EMI Repayment to start from 05-FEB-2020.
The switching of EMI Repayment Date impacts in reducing the number of EMI Installments from 6 to 5.




To view full details, sign in with your My Oracle Support account.

Don't have a My Oracle Support account? Click to get started!

In this Document

My Oracle Support provides customers with access to over a million knowledge articles and a vibrant support community of peers and Oracle experts.