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Interest Not Calculated As Expected In Over Draft Acccount (Doc ID 2564598.1)

Last updated on SEPTEMBER 11, 2019

Applies to:

Oracle FLEXCUBE Universal Banking - Version 12.0.3 and later
Information in this document applies to any platform.

Symptoms

On : 12.0.3 version, Production Support-SET

Problem exists in Production Environment

ACTUAL BEHAVIOR
---------------
The Interest calculated for an Account having Special IC condition is not matching with the Manual Calculation

EXPECTED BEHAVIOR
-----------------------
Interest has to be calculated as per the requirement below and the System calculation should match with the Manual calculations
Requirement:
For an OD account the slab amount User defiled element is maintained with the value
If the account balance is less than slab amount ,Debit interest to be calculated with rate as 9.5
IF the account balance crossed Slab amount , debit interest to be calculated with rate as 12.25
If the Account crosses limit amount then penalty rate of 14.5 to be applicable


STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1.choose an account having Special Condition and attached to the product OD01(OD interest product)
2.Run an EOD and verify for Accruals

BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, the interest collected for the customer account is inappropriate and doesn't matches with the business requirement


Changes

The Formula/Rule maintained for the OD interest product is inappropriate and does not meet the Business requirement

Cause

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In this Document
Symptoms
Changes
Cause
Solution


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