Variable Loan Interest Charging Options

Variable Loan Interest Charging Options

P & I Loan  

Vault details dialog will have the following completed:
  • Next Instalment
  • Instalment Frequency
  • Instalment Amount
The Interest Action must be Reinvest

Interest Calculation Tables: 

Interest Only - Payable

Interest Action = Transfer Account back to the same account

The Monthly Interest charge differs month to month

Interest Only - Compounding

Interest Action = Reinvest

Principal & Interest Loan

Interest Action = Reinvest

Capitalised Interest

This is where future interest is added as a component of a loan.  The same amount will have been set up in a Call account as an investment.  When interest charges on the loan account it posts to the call account
Interest Action = Transfer Account to the Call Account



 

 


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