Users with permission can waive a specified amount of loan interest. The default amount for interest will be based on any interest that is overdue on the transaction date, or the total interest due on the loan if no interest is overdue.
View the total outstanding interest of the customer in the loan account details section to ensure accuracy.
You can waive a specified sum or the total interest amount.
To waive interest for a loan account:
- On the "Active" loan account, click on the Take Action button
- Select “Waive interest” from the modal list.
- In the Transaction Amount field, enter the desired amount of interest to be waived. You may also include an optional note.
Updated 4 months ago