Ideas for the Mambu Banking Engine

Allow specifying the last instalment on products with balloon payments

What: 
On dynamic, equal instalments products with ballon payment configuration users can currently specify the amount of the periodic payment and the balloon payment is calculated automatically. 
A second option could be allowed: to specify the amount of the balloon payment and calculate the period payments automatically.

Why:
This is a common approach for the balloon payment calculation. Some organisations, when preparing a loan offer for clients with balloon payment option, specify in the contract the amount of the final balloon payment rather than the periodic payment. 
  • Dorota Nosal
  • Mar 9 2015
  • Attach files