I was not able to make a prepayment charge (when client pays in advance).
If a client repays the principal before the due date, he should not pay interest an is charged with a 2% of principal in advance.
How can I apply this type of charge to a client?
This not a issue, since this is available in available in mifos. For these kind of queries you could raise a question in:- http://mifos.cloud.answerhub.com/index.html.
In this jira issue - Please raise the issues if the feature is a bug or if you need improvements or enhancements,etc
Please find below steps for executing the scenario:-
>> You could waive respective interest by going to Loan page>>More>>Waive interest. Then make the repayment for that instalment.
>> In case if you want to prepay the entire loan then you can use Prepay loan feature by going to:- Loan page>>then click on Prepay button. For this as well you could use waive interest option.