Introduction

Its typical for an organisation providing microfinance services to have charges related to these financial products they offer. Most charges will likey be against any loan or savings programe that the organisation provides.

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• Fixed-amount: The charge is say 2 dollars no matter what.
• Percentage based: A percentage of some attribute of the service they provide e.g. 1% of loan principal
• Banded: The charge is determine based on falling with some 'band'
• Or some combination of the above (e.g. 1% of loan principal with a cap of 10 dollars)

Defining a Charge

In mifos x, we will allow a user to define a charge that can later by default be associated with products and accounts.

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