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Balloon Charge Calculation Issue (Doc ID 2793027.1)

Last updated on JULY 23, 2021

Applies to:

Oracle FLEXCUBE Universal Banking - Version 14.2.0.0.0 and later
Information in this document applies to any platform.

Goal

We need to calculate Balloon payment charges into different loan products.

Currently, the system is charging Ballon Charge(B_charge) on the Principal outstanding amount. Now, the requirement is to recover the B_charge amount on the Partial Paid amount against the principal component only. It means that the overdue amount + additional principal amount will be considered as the total paid principal amount.

Moreover, when we allocate the payment during CL payment then the amount is split into other components even if the amount is not due, as well. After that, we change the schedules manually and the total paid amount input in front of the principal component only but the system failed while calculation against Balloon/Partial payment charges on the basis of the prepaid principal amount.

e.g.
Out of Rs.400, 000/- if currently, the customer is paying Rs. 300,000/- we can assume 100,000 was overdue principal amount out of total outstanding principal amount. So, System should calculate B_charge on Rs.200,000/-(prepaid) only despite total principal amount.
 

Solution

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In this Document
Goal
Solution


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