Setting Repaid Every

Hello,

I wanted to configure a loan product where the EMI payment is on 2 particular day of the month with disbursement day.

ex:
Contract 1: disbursement day = 01/08/2020
1st: 20/08/2020
2nd: 05/09/2020
3rd: 20/09/2020
4th: 05/09/2020

Contract 2: disbursement day = 07/08/2020
1st: 22/08/2020
2nd: 07/09/2020
3rd: 22/09/2020
4th: 07/09/2020

How do I configure this?

Thanks & Regards,

Hi,
With the existing configuration settings, it is not possible to achieve it through the system.
However, you could try the variable installment feature of mifos, but you will have to manually enter the schedule for each loan, which could be difficult and not feasible in this scenario.

You can know more about variable installment feature from below links

https://mifosforge.jira.com/wiki/spaces/docs/pages/111673401/How+to+provide+variable+installments

https://mifosforge.jira.com/wiki/spaces/docs/pages/111673395/Enabling+Variable+Instalments