7.3.1 Processing Overpayment and Refund of Interest/Fees
When you select the check box overpayment allowed in the Loans and Deposits Product Preference screen overpayment of interest/fee is allowed for the loan product. System calculates the overpaid amount with all the future schedules and overpayment for the bullet schedule is not allowed. If the amount due for a schedule gets changed due to principal payment, then the system adjusts the same after re-computation.