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 |