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PRINCIPAL_SCHODUE - PENALTY CALCULATION FOR BULLET PRINCIPAL SCHEDULE WITH ADVANCE INSTALLMENT PAYMENT (Doc ID 2830825.1)

Last updated on JANUARY 04, 2022

Applies to:

Oracle FLEXCUBE Universal Banking - Version 14.3.0.0.0 and later
Information in this document applies to any platform.

Symptoms

On : 14.3.0.0.0 version, Production Support


ACTUAL BEHAVIOR
---------------
Bank defined penalty component (CONT_INT) to be collected after maturity date for the loan account based on SDE - PRINCIPAL_SCHODUE.

Please find below expression for calculating penalty:
(PRINCIPAL_SCHODUE*CONT_INT_RATE*DAYS)/(YEAR*100)

System calculated incorrect penalty amount for the loan account.

EXPECTED BEHAVIOR
-----------------------
System should calculate correct penalty amount based on PRINCIPAL_SCHODUE.

STEPS

-----------------------
The issue can be reproduced (with the above mentioned product setup) at will
with the following steps:

1. Invoke CLDPYMNT

2. Enter loan account having below criteria.
- Only one bullet schedule for PRINCIPAL component
- Crossed maturity date
- Have Advance Installment payment for PRINCIPAL component

3. Click on "Populate Dues"

4. Incorrect penalty amount is displayed.

BUSINESS IMPACT

-----------------------
The issue has the following business impact:
Due to this issue, user can not proceed to collect the correct penalty amount from customer.

Cause

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In this Document
Symptoms
Cause
Solution
References


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