Dear Sangamesh,
It's clear, but for example , when client wants to pay in advance for 3-4
payments , then he must pay principal of these payments + 2% of this
principal, so credit officer waives current interest of these period (he
has to compute the sum of the interests for the given period by himself) ,
after that he must calculate 2% of principal and make prepayment.
Thanks Aleksandre
On Mon, Jan 25, 2016 at 5:19 PM, Sangamesh Nadagoudar <
[email protected]> wrote:
> Hello,
>
> Mifos calculates the interest amount automatically, Once the loan account
> is created you could go to Repayment schedule, it will show the principal
> amount + interest amount = Instalment amount. And also when you use waive
> interest feature it will automatically show the next instalment's interest
> amount to be collected in the waive interest field itself. No need to
> calculate outside the mifos x.
>
> For more details on waive interest, please follow:-
> https://mifosforge.jira.com/wiki/display/docs/How+to+Waive+Interest+for+a+Loan+Account
>
> For more details on creating loan product and loan account:-
> https://mifosforge.jira.com/wiki/display/docs/Loan+Accounts
> https://mifosforge.jira.com/wiki/display/docs/Products
>
> You could also follow our you tube mifos x training video docs:-
> https://www.youtube.com/watch?v=K0ipLNV7fOQ&list=PLAfz_RVd88FooXjldO5tdC63oMi0TSMwK
>
> Thanks,
> Sangamesh
>
> On Mon, Jan 25, 2016 at 6:39 PM, aleksandre lomadze <[email protected]>
> wrote:
>
>> Dear Sangamesh,
>>
>> In this case, how could credit officer calculate, how much interest he
>> must waive and how much principal to prepay?
>>
>> Thenks Aleksandre
>>
>> On Mon, Jan 25, 2016 at 4:05 PM, Sangamesh Nadagoudar <
>> [email protected]> wrote:
>>
>>> Hello Tengiz,
>>>
>>> Please find my answer in lined below:-
>>> 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?
>>> >> 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.
>>>
>>> Thanks,
>>> Sangamesh
>>>
>>>
>>>
>>> On Fri, Jan 22, 2016 at 7:11 PM, Tengiz Merabishvili <[email protected]>
>>> wrote:
>>>
>>>> Hello, we have a couple of questions.
>>>>
>>>> First, we want to add a prepayment charge but we couldn't find the
>>>> functionality. Could anyone tell us if that's possible?
>>>> Jira case here:
>>>> https://mifosforge.jira.com/browse/MIFOSX-2487
>>>>
>>>> Second, we would like to know if it's possible to have Data Table names
>>>> in different languages. Or if it's possible to make the tab names from the
>>>> Client Page appear in a translated language.
>>>> Jira case here:
>>>> https://mifosforge.jira.com/browse/MIFOSX-2492
>>>>
>>>> Thanks,
>>>>
>>>> Best Regards,
>>>>
>>>> Tengiz Merabishvili
>>>>
>>>>
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>>
>
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