Beginning at the main screen, select Admin, then Products from the drop-down menu. This will launch the Products menu.
Select Loan Products.
Create Loan Product
Details
Note: All red colored asterisk mark are mandatory fields.
Please refer above Details - Image, Below mentioned Details are provided updated with respect to the provided fields number's.
1 - Provide loan product name .(Mandatory)
2 - Provide short name. (Mandatory)
3 - Provide description of this product.
5 - Provide Loan product Start date
6 - Provide Loan product Close date. Note - Loan product cant be used after this date.
7 - On checking the check box, it captures number of loan taken by customer.
Currency
8 - Select currency. Need to have defined required currency: Currency Configuration
9 - Provide Decimal places.
10 - Provide currency in multiples of. This is to provide total amount rounding off. For ex: 10, so Total amount gets rounded of to 10's.
11 - Provide installment in multiples of. This is to provide installment rounding off. For ex: 10, so Installment amount gets rounded of to 10's.
Terms
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If you are loan product is not
19 - Check the check box to enable "Terms vary based on loan cycle".
20 - Click on Add button to define
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Mifos X provides the ability to restrict loan account holding combinations not allowed by a financial institution. Use the Product Mix capability to define your financial institutions restrictions.
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A loan account is a specific instance of a loan product, with a specified interest rate and an account number, and it is owned by a financial institution client. |
Info |
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