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Former Member
Jan 04, 2013 at 06:07 AM

Loan - Interest Fix Rate Method on Principal amount.

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Dear Experts,

I have configured the Loan - IT0045. I want to calculate Interest by fix rate method on Principal amount i.e. Rs.45000/-

Now I am getting Interest by reducing balance method on balance amount.

Scenario is as follows:

Principal: 45000/-

Interest: 10% - Flat/Fix & up to last instalment should be deduction on Rs.45000 principal. Period: 60 Months

Instalment: 750/-

Thanks in advance.

Regards,

Santosh Shivane