Published on : June 04, 2020

There are 2 keys for close which decides Foreclosure of loan:
1. Foreclosure fees(foreclosure_fees): Keys for calculation of foreclosure
amount
2. Close : Keys when the loan is closed beforehand

Example:
Foreclosure by default is marked as No.

setup date – Jan 1st
close.locked_days – 30
foreclosure_fees.till_days=180

first date of closure will start on = Jan 31
till_days was 180 , hence foreclosure fees will be charged till – Jun 30

Foreclosure fees(foreclosure_fees)

collect Default should be no Yes No  
till_days   180  
pos_percentage What percentage of the pos do will be charg ed at foreclosure Includes GST 4.72   Scheme

close(close)

locked_days How many days after which loan can be closed 30 Scheme
with_pos Can the Loan be closed even if principal is outstanding Yes
No   		Default=no