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To waive interest for a loan account, a mifos user must be assigned permission.

The amount of interest to be waived can be specified when completing the transaction. The amount will default to interest amounts that are in arrears on the transaction date, if any, or the total interest payable on the loan if interest is not in arrears.

Before waiving interest, review the information on the loan account summary tab to confirm the amount of interest to be waived.

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To inherit charges from the product definition

While completing a loan account application for a client, keep the charges that appear in the loan account. Complete any fields that do not default, such as a date, that may be required.

To add charges to a loan account

When editing a loan account, navigate to the Charges section. See Loan Account Fields Charges.

To add miscellaneous (one-time) charges to a loan account

When viewing a loan account, click +Add Loan Charge on the action bar.

  1. Select Charge type from the list.
  2. Complete the fields required for the charge.
  3. Click Submit.

 

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