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Charges (fees and penalties) can be charged to loan accounts in three ways: 

  • Charges are inherited from the product definition. A loan officer may have the ability to remove one or more of these charges for a loan account. When a charge is removed from a loan account, other loan accounts are not affected.
  • Charges (not yet associated with the loan account) can be selected and attached to the loan account.
  • Miscellaneous charges (one time charge) can be charged to a loan account. The loan officer specifies the amount, which is added in the next payment.

Charge may be added at the time of loan account application, and when a loan account is Pending Approval, Approved, and Active. Adding a charge to a loan account does not affect the loan account's status.

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To inherit charges from the product definition

While completing a loan account application for a client, keep the charges that appear in the loan account. Complete any fields that do not default, such as a date, that may be required.

To add charges to a loan account

When editing a loan account, navigate to the Charges section. See Loan Account Fields Charges.

When vi

To create a loan account application for a group, select the group (needs link to how to find a group). Click the General tab.

  1. Click +Group Loan Application on the bright blue action bar.
  2. Select the loan product to base the loan account on from the product list.
  3. Complete the loan account fields, making any modifications from the default that are permitted and applicable to the loan application.

  4. Click Submit.

The loan account application will be created with a status of Pending Approval. Your financial institution will define the workflow and permissions for approving loans.

needs link to how

To add miscellaneous (one-time) charges to a loan account

To create JLG loan account applications, select the group (

to

find

a

group). Click the Members tab.
  • Click +JLG Loan Application next to the member the loan account is for.
  • Select the loan product to base the loan account on from the product list.
    • Complete the 

    loan account

    fields, making any modifications from the default that are permitted and applicable to the loan application.

  • Click Submit.

  • Repeat steps 1-4 for each group member applying for a loan.

    • The loan account application will be created with a status of Pending Approval. Your financial institution will define the workflow and permissions for approving loans.

    See: http://mifos.cloud.answerhub.com/questions/116/what-is-the-difference-between-group-loan-applicat.html

    Create new JLG loan 

    New JLG loan application: In JLG loan application, a loan is created for each member of that group (one can exclude members if member is not applied for new loan) and tracked at member level only.And only these JLG loans appear in the collection sheet. This is feature is useful for organization following Grameen or similar methodology (center, group and joint liability loans)

    It is similar to the individual loan but individual loan does not appear in the collection sheet.


     

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    labelsloans accounts portfolio loan-account-form