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• The chosen currency must match between charge and loan product otherwise the user wont be able to select charge to add to loan product.
• When a user attempts to create a loan against the given loan product, the default charges of the loan product are added and taken into account on the loans repayment schedule.
• Only active charges can be associated with a loan product. If a charge is active and associated with loan product and later is set to inactive, new loans against loan product wont pick up on inactive charges and the inactive charges wont be visible on the loan product maintenance screens.
• Only fee charges are allowed to be associated with a product (Ability to associate a penalty with a loan product doesnt make any sense).

Right now we have a table called m_product_loan_charge that is simply a join table between a m_product_loan and m_charge. No other information is captured when associating charge with product.

Note: The properties of the defined charge may change over time but their is no impact on the association between a given defined charge and a loan product until someone modifies the loan product to remove the defined charge. If the charge is 'de-activated' or 'deleted' then the charge should no longer be associated with the product.

Example UI of possible fields for creating loan product with ability to define default charges against the loan product

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Loan charges

In mifos x, we allow a user to associate charges against a loan at any point. As explained above, any charges from loan product are by default added to the loan during creation. These can be removed during creation of loan applicaton or later.

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