Home Loan

[Former Member]

Dear All,

One of my EE has taken Home loan of 50000. However I do not know, How the interest is getting calculated.

Find the screenshot for the same.

Kindly let me know, how system is calculating the interest amount.

Regard

KKS

[Former Member · Accepted solution]

Hi

The interest is getting calculated as follows

45000*5%=2250/12=187.5 for 1st period

40,000*5=2000/12=166.67

35000*5%=1750/12=145.83  and so on .....

Please reward points if answer is useful.

[Former Member · Accepted solution]

Thx Lakshmi,

Calculation is working fine.

However if I do not put any Individual Interest rate. Then also system is calculating at 5%.

Let me know how to make it Interest free.

Regard

KKS

[Former Member]

hi

V_T506D is the table where u have to remove ur interest rate for that loan type.

navigation:-

spro

payroll

payroll india

company loans

maintain loan types(select ur loan type here and click on condition on ur left side of the screen and remove the interest rate.

[Former Member]

Thx Zakir,

One more question.

What about If I want to charge Fixed Interest rate then.

What setting should I do?

Regards

KKS

[Former Member]

hi

you can maintain the same in above mentioned table.or if i am wrong pls. give one example,like what is your requirement.