FINERACT-2357: Support principal & interest moratorium for progressive loans#5441
FINERACT-2357: Support principal & interest moratorium for progressive loans#5441airajena wants to merge 1 commit intoapache:developfrom
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@airajena Kindly review the failed checks! |
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Added the fixes |
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| return new LoanConfigurationDetails(currencyData, loanProductRelatedDetail.getNominalInterestRatePerPeriod(), | ||
| loanProductRelatedDetail.getAnnualNominalInterestRate(), loanProductRelatedDetail.getGraceOnInterestCharged(), | ||
| loanProductRelatedDetail.getGraceOnPrincipalPayment(), loanProductRelatedDetail.getGraceOnPrincipalPayment(), | ||
| loanProductRelatedDetail.getGraceOnInterestPayment(), loanProductRelatedDetail.getGraceOnPrincipalPayment(), |
| return getPeriodNumber() <= interestGrace; | ||
| } | ||
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| private int getPeriodNumber() { |
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Interesting approach, but i think we should do it differently.
Based on the configuration let's use modifier flags which will instruct the calculator whether interest can be calculated or not.
The interest pause logic which is already in place can be rather used here to achieve the same! :)
I think the right approach anyway would be to consider the grace principal and grace interest from the moment it was generated and the EMI should consider and reflect them from Day 1.
@bharathc27 what do you think?
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Kindly see my concerns!
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@bharathc27 I would like to hear your opinion on this PR. I think grace periods / moratorium is something that we know from Day 1 and the repayment schedule should be calculated and reflect its side effects, no? EMI calculation should consider and calculate an EMI which remains the same across the periods anyway, no? |
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Description
This PR adds principal and interest moratorium support to the Progressive repayment strategy. Principal grace produces interest-only installments for the configured number of periods and re-amortizes the remaining schedule. Interest grace defers interest (it is not waived), with deferred interest recognized in subsequent periods. It also fixes the progressive loan configuration mapping so interest grace is correctly passed through.
Changes
Testing
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