Example

Let us look at the following image that illustrates how the system manages the storing (and thus displaying) of the schedules:

You can also view the preceding image from this link: Sample Illustration.

As per the preceding image, we observe the following:

• The following parameters have their values set in the org:

  • Store Schedules After Fixed Period Of (months) = 12

    This means that all the schedules after the 12th month from the current schedule must be stored in the big object. The rest of the schedules after the current schedule must be stored in sObject.

    And n = number of schedules falling in the 12 months = 12 schedules (because payment frequency is monthly. If payment frequency was weekly, then n would have been 12x4=48.)

  • Store Schedules Before Fixed Period Of (months) = 6

    This means that all the schedules before 6 months from the current schedule must be stored in big object. The schedules falling within the 6 months before the current schedule must be stored in sObject.

• A loan contract is created with 360 terms at a payment frequency of monthly. Let us say the contract is created on March 1, 2013.

• On the contract creation day at the time of first disbursal (On March 1, 2013):

  • The system generates the amortization schedule and allocates the schedules as per the preceding parameters defined. This means that only the upcoming 12 schedules are stored in sObject and are displayed in the Repayment Schedule tab as depicted in the following image:

    

    In the preceding image, 12 schedules are from April 1, 2013, to March 1, 2014.

    The remaining schedules (360 -12 = 348 schedules in the future) are not visible and are stored in the big object.

    If you still want to see all the schedules, then use the View All button.

• On the first month (April 1, 2013):

  • As n = 12, so n-3 = 9.

  • Since it is not the ninth month, the ScheduleExtractionDynamicJob does not run and nothing changes in the sObject or the big object.

  • As the job does not run, you still see the same schedule as on the contract creation day. Thus, you see zero schedule of the past, current schedule (April 1, 2013,) and 11 schedules of the future (from May 1, 2013 to March 1, 2014) in the Repayment Schedule tab as depicted in the following image:

    

    From the preceding image, on the first month, as we are on April 1, 2013, we can still see the same schedule as the job has not run.

• On the eight month (November 1, 2013):

  • As n = 12, so n-3 = 9.

  • Since it is not the ninth month, the ScheduleExtractionDynamicJob does not run and nothing changes in the sObject or the big object.

  • As the job does not run, you still see the same schedule as on the contract creation day. Thus, you see seven schedules of the past (from April 1, 2013, to October 1, 2013), current schedule (November 1, 2013,) and three schedules of the future (from December 1, 2013, to March 1, 2014) in the Repayment Schedule tab as depicted in the following image:

• On the ninth month (December 1, 2013):

  • As n = 12, so n-3 = 9.

    The ScheduleExtractionDynamicJob runs on the ninth month and determines the number of future and past schedules to display and store in the sObject. As three upcoming schedules (January 1, 2014, to March 1, 2014,) are already displayed and stored in the sObject, it fetches further (n-3) = 9 schedules from the big object and stores them in the sObject. Thus, further nine schedules (from April 1, 2014, to December 1, 2014,) are then displayed summing up to a total of 12 upcoming schedules of the future to display.

    (Note that if the payment frequency is not monthly, and is quarterly, then it will display only four upcoming schedules of the future. )

  • As Store Schedules Before Fixed Period Of (months) = 6, the system moves 2 schedules (April 1, 2013 and May 1, 2013) of the past from sObject to the big Object to display only six schedules of the past (from June 1, 2013, to November 1, 2013) in the Repayment Schedule tab as depicted in the following image:

    

  Can you see all the schedules on the UI?

  Yes. At any point in time, if you want to see all the schedules (from both sObject and big object), you can just click on View All button on the page of the Repayment Schedule tab.

  Loans with payment frequency as quarterly

  If you have quarterly payment frequency loans in your portfolio, then it is recommended that you set the value of Store Schedules After Fixed Period Of parameter to 12. This is because for a quarterly payment frequency, to have minimum 3 schedules in future to show, schedules up to 12 months need to be available.

  To understand this, let us say there is a quarterly payment frequency loan that was created on January 1. In this case, the schedules would fall on April 1, July 1, Oct 1, Nov 1 and so on. If the configuration for future schedules to show (Store Schedules After Fixed Period Of parameter) is given as 6 (6 is minimum default number), then it means that the schedules falling in the next 6 months, would be April 1 and Jul 1 only. This means only 2 schedules in the future will be shown, but at least 3 are recommended for the product. To handle this, It is recommended that you set the value of Store Schedules After Fixed Period Of parameter to 12 if the portfolio consists of quarterly payment frequency loans.