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IRR-YACR was not correct when there was only Principal Prepayment (Doc ID 2731028.1)

Last updated on NOVEMBER 24, 2020

Applies to:

Oracle FLEXCUBE Universal Banking - Version 12.1 and later
Information in this document applies to any platform.

Symptoms

On : 12.1 version, Production Support-SET

ACTUAL BEHAVIOR
---------------
When user did CL prepayment to settle only Principal outstanding, system was booking incorrect YACR.

EXPECTED BEHAVIOR
-----------------------
Sum of YACR should be equal to the charge amount after the loan maturity if there was charge otherwise it should be 0.

STEPS
-----------------------
The issue can be reproduced at will with the following steps:
1. Book a backdated CL loan
2. Do full Principal prepayment and leave interest unpaid
3. Check the IRR and YACR after prepayment

BUSINESS IMPACT
-----------------------
The issue has the following business impact:
Due to this issue, users cannot see the correct YACR balance on loan maturity

Changes

 

Cause

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In this Document
Symptoms
Changes
Cause
Solution


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