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FINERACT-1981: revise last installment payment strategy
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@adamsaghy @kjozsa
adamsaghy authored and kjozsa committed Oct 30, 2024
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84 changes: 84 additions & 0 deletions fineract-e2e-tests-runner/src/test/resources/features/Loan.feature
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Expand Up @@ -5755,3 +5755,87 @@ Feature: Loan
| Term Type Id | Term Type Code | Term Type Value | Applicable From | Decimal Value | Date Value | Is Specific To Installment | Is Processed |
| 1 | loanTermType.emiAmount | emiAmount | 01 January 2023 | 50.0 | | false | |
| 4 | loanTermType.dueDate | dueDate | 01 February 2023 | 50.0 | 15 January 2023 | false | |

Scenario: EMI calculation with 360/30 Early repayment - Last installment strategy - UC1: Multiple early repayment
When Admin sets the business date to "01 January 2024"
When Admin creates a client with random data
When Admin creates a fully customized loan with the following data:
| LoanProduct | submitted on date | with Principal | ANNUAL interest rate % | interest type | interest calculation period | amortization type | loanTermFrequency | loanTermFrequencyType | repaymentEvery | repaymentFrequencyType | numberOfRepayments | graceOnPrincipalPayment | graceOnInterestPayment | interest free period | Payment strategy |
| LP2_ADV_PYMNT_INTEREST_DAILY_EMI_360_30_IR_DAILY_TILL_PRECLOSE_LAST_INSTALLMENT_STRATEGY | 01 January 2024 | 100 | 7.0 | DECLINING_BALANCE | DAILY | EQUAL_INSTALLMENTS | 6 | MONTHS | 1 | MONTHS | 6 | 0 | 0 | 0 | ADVANCED_PAYMENT_ALLOCATION |
And Admin successfully approves the loan on "01 January 2024" with "100" amount and expected disbursement date on "01 January 2024"
When Admin successfully disburse the loan on "01 January 2024" with "100" EUR transaction amount
Then Loan Repayment schedule has 6 periods, with the following data for periods:
| Nr | Days | Date | Paid date | Balance of loan | Principal due | Interest | Fees | Penalties | Due | Paid | In advance | Late | Outstanding |
| | | 01 January 2024 | | 100.0 | | | 0.0 | | 0.0 | 0.0 | | | |
| 1 | 31 | 01 February 2024 | | 83.57 | 16.43 | 0.58 | 0.0 | 0.0 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 |
| 2 | 29 | 01 March 2024 | | 67.05 | 16.52 | 0.49 | 0.0 | 0.0 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 |
| 3 | 31 | 01 April 2024 | | 50.43 | 16.62 | 0.39 | 0.0 | 0.0 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 |
| 4 | 30 | 01 May 2024 | | 33.71 | 16.72 | 0.29 | 0.0 | 0.0 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 |
| 5 | 31 | 01 June 2024 | | 16.9 | 16.81 | 0.2 | 0.0 | 0.0 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 |
| 6 | 30 | 01 July 2024 | | 0.0 | 16.9 | 0.1 | 0.0 | 0.0 | 17.0 | 0.0 | 0.0 | 0.0 | 17.0 |
Then Loan Repayment schedule has the following data in Total row:
| Principal due | Interest | Fees | Penalties | Due | Paid | In advance | Late | Outstanding |
| 100.0 | 2.05 | 0.0 | 0.0 | 102.05 | 0.0 | 0.0 | 0.0 | 102.05 |
Then Loan Transactions tab has the following data:
| Transaction date | Transaction Type | Amount | Principal | Interest | Fees | Penalties | Loan Balance |
| 01 January 2024 | Disbursement | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 100.0 |
# --- Early repayment on 15 January 2024 ---
When Admin sets the business date to "15 January 2024"
And Customer makes "AUTOPAY" repayment on "15 January 2024" with 15.00 EUR transaction amount
Then Loan Repayment schedule has 6 periods, with the following data for periods:
| Nr | Days | Date | Paid date | Balance of loan | Principal due | Interest | Fees | Penalties | Due | Paid | In advance | Late | Outstanding |
| | | 01 January 2024 | | 100.0 | | | 0.0 | | 0.0 | 0.0 | | | |
| 1 | 31 | 01 February 2024 | | 83.52 | 16.48 | 0.53 | 0.0 | 0.0 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 |
| 2 | 29 | 01 March 2024 | | 66.91 | 16.61 | 0.4 | 0.0 | 0.0 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 |
| 3 | 31 | 01 April 2024 | | 50.2 | 16.71 | 0.3 | 0.0 | 0.0 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 |
| 4 | 30 | 01 May 2024 | | 33.4 | 16.8 | 0.21 | 0.0 | 0.0 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 |
| 5 | 31 | 01 June 2024 | | 16.5 | 16.9 | 0.11 | 0.0 | 0.0 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 |
| 6 | 30 | 01 July 2024 | | 0.0 | 16.5 | 0.01 | 0.0 | 0.0 | 16.51 | 15.0 | 15.0 | 0.0 | 1.51 |
Then Loan Repayment schedule has the following data in Total row:
| Principal due | Interest | Fees | Penalties | Due | Paid | In advance | Late | Outstanding |
| 100.0 | 1.56 | 0.0 | 0.0 | 101.56 | 15.0 | 15.0 | 0.0 | 86.56 |
Then Loan Transactions tab has the following data:
| Transaction date | Transaction Type | Amount | Principal | Interest | Fees | Penalties | Loan Balance |
| 01 January 2024 | Disbursement | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 100.0 |
| 15 January 2024 | Repayment | 15.0 | 15.0 | 0.0 | 0.0 | 0.0 | 85.0 |
# --- Early repayment on 15 January 2024 ---
And Customer makes "AUTOPAY" repayment on "15 January 2024" with 1.50 EUR transaction amount
Then Loan Repayment schedule has 6 periods, with the following data for periods:
| Nr | Days | Date | Paid date | Balance of loan | Principal due | Interest | Fees | Penalties | Due | Paid | In advance | Late | Outstanding |
| | | 01 January 2024 | | 100.0 | | | 0.0 | | 0.0 | 0.0 | | | |
| 1 | 31 | 01 February 2024 | | 83.52 | 16.48 | 0.53 | 0.0 | 0.0 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 |
| 2 | 29 | 01 March 2024 | | 66.9 | 16.62 | 0.39 | 0.0 | 0.0 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 |
| 3 | 31 | 01 April 2024 | | 50.18 | 16.72 | 0.29 | 0.0 | 0.0 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 |
| 4 | 30 | 01 May 2024 | | 33.37 | 16.81 | 0.2 | 0.0 | 0.0 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 |
| 5 | 31 | 01 June 2024 | | 16.5 | 16.87 | 0.1 | 0.0 | 0.0 | 16.97 | 0.0 | 0.0 | 0.0 | 16.97 |
| 6 | 30 | 01 July 2024 | 15 January 2024 | 0.0 | 16.5 | 0.0 | 0.0 | 0.0 | 16.5 | 16.5 | 16.5 | 0.0 | 0.0 |
Then Loan Repayment schedule has the following data in Total row:
| Principal due | Interest | Fees | Penalties | Due | Paid | In advance | Late | Outstanding |
| 100.0 | 1.51 | 0.0 | 0.0 | 101.51 | 16.5 | 16.5 | 0.0 | 85.01 |
Then Loan Transactions tab has the following data:
| Transaction date | Transaction Type | Amount | Principal | Interest | Fees | Penalties | Loan Balance |
| 01 January 2024 | Disbursement | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 100.0 |
| 15 January 2024 | Repayment | 15.0 | 15.0 | 0.0 | 0.0 | 0.0 | 85.0 |
| 15 January 2024 | Repayment | 1.5 | 1.5 | 0.0 | 0.0 | 0.0 | 83.5 |
# --- Pay-off on 15 January 2024 ---
And Customer makes "AUTOPAY" repayment on "15 January 2024" with 83.76 EUR transaction amount
Then Loan Repayment schedule has 6 periods, with the following data for periods:
| Nr | Days | Date | Paid date | Balance of loan | Principal due | Interest | Fees | Penalties | Due | Paid | In advance | Late | Outstanding |
| | | 01 January 2024 | | 100.0 | | | 0.0 | | 0.0 | 0.0 | | | |
| 1 | 31 | 01 February 2024 | 15 January 2024 | 84.54 | 15.46 | 0.26 | 0.0 | 0.0 | 15.72 | 15.72 | 15.72 | 0.0 | 0.0 |
| 2 | 29 | 01 March 2024 | 15 January 2024 | 67.53 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 | 17.01 | 17.01 | 0.0 | 0.0 |
| 3 | 31 | 01 April 2024 | 15 January 2024 | 50.52 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 | 17.01 | 17.01 | 0.0 | 0.0 |
| 4 | 30 | 01 May 2024 | 15 January 2024 | 33.51 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 | 17.01 | 17.01 | 0.0 | 0.0 |
| 5 | 31 | 01 June 2024 | 15 January 2024 | 16.5 | 17.01 | 0.0 | 0.0 | 0.0 | 17.01 | 17.01 | 17.01 | 0.0 | 0.0 |
| 6 | 30 | 01 July 2024 | 15 January 2024 | 0.0 | 16.5 | 0.0 | 0.0 | 0.0 | 16.5 | 16.5 | 16.5 | 0.0 | 0.0 |
Then Loan Repayment schedule has the following data in Total row:
| Principal due | Interest | Fees | Penalties | Due | Paid | In advance | Late | Outstanding |
| 100.0 | 0.26 | 0.0 | 0.0 | 100.26 | 100.26 | 100.26 | 0.0 | 0.0 |
Then Loan Transactions tab has the following data:
| Transaction date | Transaction Type | Amount | Principal | Interest | Fees | Penalties | Loan Balance |
| 01 January 2024 | Disbursement | 100.0 | 0.0 | 0.0 | 0.0 | 0.0 | 100.0 |
| 15 January 2024 | Repayment | 15.0 | 15.0 | 0.0 | 0.0 | 0.0 | 85.0 |
| 15 January 2024 | Repayment | 1.5 | 1.5 | 0.0 | 0.0 | 0.0 | 83.5 |
| 15 January 2024 | Repayment | 83.76 | 83.5 | 0.26 | 0.0 | 0.0 | 0.0 |
| 15 January 2024 | Accrual | 0.26 | 0.0 | 0.26 | 0.0 | 0.0 | 0.0 |
Then Loan status will be "CLOSED_OBLIGATIONS_MET"
9 changes: 9 additions & 0 deletions ...ineract/portfolio/loanaccount/loanschedule/data/ProgressiveLoanInterestScheduleModel.java
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Expand Up @@ -30,6 +30,7 @@
import java.util.function.Consumer;
import lombok.Data;
import lombok.experimental.Accessors;
import org.apache.fineract.infrastructure.core.service.MathUtil;
import org.apache.fineract.organisation.monetary.domain.Money;
import org.apache.fineract.portfolio.loanproduct.domain.LoanProductRelatedDetail;

Expand Down Expand Up @@ -196,4 +197,12 @@ void insertInterestPeriod(final RepaymentPeriod repaymentPeriod, final LocalDate
public Money getZero() {
return Money.zero(loanProductRelatedDetail.getCurrency(), mc);
}

public Money getTotalOutstandingBalance() {
Money totalDisbursedAmount = repaymentPeriods.stream()
.flatMap(rp -> rp.getInterestPeriods().stream().map(InterestPeriod::getDisbursementAmount)).reduce(getZero(), Money::plus);
Money totalPrincipalPaidAmount = repaymentPeriods.stream().map(RepaymentPeriod::getPaidPrincipal).reduce(getZero(), Money::plus);

return MathUtil.negativeToZero(totalDisbursedAmount.minus(totalPrincipalPaidAmount, mc));
}
}
5 changes: 5 additions & 0 deletions ...ain/java/org/apache/fineract/portfolio/loanaccount/loanschedule/data/RepaymentPeriod.java
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Expand Up @@ -46,6 +46,9 @@ public class RepaymentPeriod {
@Setter
@Getter
private Money emi;
@Setter
@Getter
private Money originalEmi;
@Getter
private Money paidPrincipal;
@Getter
Expand All @@ -62,6 +65,7 @@ public RepaymentPeriod(RepaymentPeriod previous, LocalDate fromDate, LocalDate d
this.fromDate = fromDate;
this.dueDate = dueDate;
this.emi = emi;
this.originalEmi = emi;
this.mc = mc;
this.interestPeriods = new ArrayList<>();
// There is always at least 1 interest period, by default with same from-due date as repayment period
Expand All @@ -76,6 +80,7 @@ public RepaymentPeriod(RepaymentPeriod previous, RepaymentPeriod repaymentPeriod
this.fromDate = repaymentPeriod.fromDate;
this.dueDate = repaymentPeriod.dueDate;
this.emi = repaymentPeriod.emi;
this.originalEmi = repaymentPeriod.originalEmi;
this.interestPeriods = new ArrayList<>();
this.paidPrincipal = repaymentPeriod.paidPrincipal;
this.paidInterest = repaymentPeriod.paidInterest;
Expand Down
20 changes: 19 additions & 1 deletion ...rc/main/java/org/apache/fineract/portfolio/loanproduct/calc/ProgressiveEMICalculator.java
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Expand Up @@ -136,13 +136,23 @@ public void payInterest(ProgressiveLoanInterestScheduleModel scheduleModel, Loca
@Override
public void payPrincipal(ProgressiveLoanInterestScheduleModel scheduleModel, LocalDate repaymentPeriodDueDate,
LocalDate transactionDate, Money principalAmount) {
findRepaymentPeriod(scheduleModel, repaymentPeriodDueDate).ifPresent(rp -> rp.addPaidPrincipalAmount(principalAmount));
Optional<RepaymentPeriod> repaymentPeriod = findRepaymentPeriod(scheduleModel, repaymentPeriodDueDate);
repaymentPeriod.ifPresent(rp -> rp.addPaidPrincipalAmount(principalAmount));
LocalDate balanceCorrectionDate = transactionDate;
if (repaymentPeriodDueDate.isBefore(transactionDate)) {
// If it is paid late, we need to calculate with the period due date
balanceCorrectionDate = repaymentPeriodDueDate;
}
addBalanceCorrection(scheduleModel, balanceCorrectionDate, principalAmount.negated());

repaymentPeriod.ifPresent(rp -> {
// If any period total paid > calculated EMI, then set EMI to total paid -> effectively it is marked as
// fully paid
if (rp.getTotalPaidAmount().compareTo(rp.getEmi()) > 0) {
rp.setEmi(rp.getTotalPaidAmount());
calculateLastUnpaidRepaymentPeriodEMI(scheduleModel);
}
});
}

@Override
Expand Down Expand Up @@ -173,6 +183,11 @@ public PayableDetails getPayableDetails(final ProgressiveLoanInterestScheduleMod
calculateOutstandingBalance(scheduleModelCopy);
calculateLastUnpaidRepaymentPeriodEMI(scheduleModelCopy);

boolean multiplePeriodIsUnpaid = scheduleModelCopy.repaymentPeriods().stream().filter(rp -> !rp.isFullyPaid()).count() > 1L;
if (multiplePeriodIsUnpaid && !targetDate.isAfter(repaymentPeriod.getFromDate())) {
repaymentPeriod.setEmi(repaymentPeriod.getOriginalEmi());
}

return new PayableDetails(repaymentPeriod.getEmi(), repaymentPeriod.getDuePrincipal(), repaymentPeriod.getDueInterest(),
interestPeriod.getOutstandingLoanBalance().add(interestPeriod.getDisbursementAmount(), mc));
}
Expand Down Expand Up @@ -245,6 +260,7 @@ private void checkAndAdjustEmiIfNeededOnRelatedRepaymentPeriods(final Progressiv
if (!period.getDueDate().isBefore(relatedPeriodsFirstDueDate)
&& !adjustedEqualMonthlyInstallmentValue.isLessThan(period.getTotalPaidAmount())) {
period.setEmi(adjustedEqualMonthlyInstallmentValue);
period.setOriginalEmi(adjustedEqualMonthlyInstallmentValue);
}
});
calculateOutstandingBalance(newScheduleModel);
Expand All @@ -265,6 +281,7 @@ private void checkAndAdjustEmiIfNeededOnRelatedRepaymentPeriods(final Progressiv
}
final RepaymentPeriod newRepaymentPeriod = relatedPeriodFromNewModelIterator.next();
relatedRepaymentPeriod.setEmi(newRepaymentPeriod.getEmi());
relatedRepaymentPeriod.setOriginalEmi(newRepaymentPeriod.getEmi());
});
calculateOutstandingBalance(scheduleModel);
}
Expand Down Expand Up @@ -401,6 +418,7 @@ void calculateEMIOnPeriods(final List<RepaymentPeriod> repaymentPeriods, final P
repaymentPeriods.forEach(period -> {
if (!finalEqualMonthlyInstallment.isLessThan(period.getTotalPaidAmount())) {
period.setEmi(finalEqualMonthlyInstallment);
period.setOriginalEmi(finalEqualMonthlyInstallment);
}
});
}
Expand Down

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