Setting up and Configuring New Products

About Products

A product is a financial offering by a financial institution to its clients. Products are set up once and are then available to qualifying clients (individuals, groups, and centers).

Financial institutions can set up and configure:

• Loan products
• Deposit Products:
  • Saving products (current and saving accounts)
  • Term deposit products
    • Fixed deposit products
    • Recurring deposit products

Each product may have one or more associated charges (i.e., fees and penalties). These charges need to be defined before they can be associated with a product. To learn about charges see About Charges.

Your system administrator will define which users are able to define products, charges and product mix.