Some Mifos users, while giving out a loan, are immediately taking off some % or amount from loan amount as payback guarantee.
Now if User want to take off such a guarantee it is necessary to make re-calculations of the loan amount and interest after having removed payback-guarantee amount he/she requires.
It'll be good to add option which will automate this process in Mifos while loan is giving out.
Payback guarantee can be kept on some other account such that at the end of the loan cycle it would be possible to either return those funds to the client (if he has paid on time and everything) or use those funds to go into a new-loan guarantee.
That is a good idea you can give a rebate of an EMI in nos.that will be easy and good.
Also once you booked your fees as income and pay tax accordingly,is not a good idea to give it back.
You can give a rebate of anything which is based on future incoming.Means a EMI or a future applicable fees etc.
This feature is required lots of discussion because it will give effect in accounting.
Discussed during triage and user meetup on Sept 13, 2012 but still need further discussion of widespread need across the community.
As Amit says, this will require a lot of discussion for its implications for accounting. It might be so intensive that it's more suitable for Mifos X functionality.