Add new loan product or modify or inactivate loan product
Add new savings product or modify or inactivate savings product
Add new share product or modify or inactivate share product
Define charges/penalties for loan products, savings and deposit products
Define collaterals for Collateral Management
Define delinquency day ranges and bucket set for loan products
Defines rules for taking multiple rules
Add, modify or inactivate a Fixed deposit product
Add, modify or inactivate a Recurring Deposit product
Define Tax components and Tax groups
Define floating rates for loan products
Mifos supports two types of charges—fees and penalties.Fees are charged for services—for example, membership fees, loan disbursement fees, withdrawal fees. Penalties are charged to discourage clients from deviating from the terms of a product
Loan products define the rules, default settings, and constraints for a financial institution's lending offerings. A loan product provides a template for multiple loan accounts for the financial institution's clients.
Savings products define the rules, default settings, and constraints for a financial institution's current/checking and passbook savings accounts. A saving product provides a template for multiple accounts that are or will be held by the financial institution's clients, groups and centers.
Share products define the rules, default settings, and constraints for a financial institution's Shares and dividends. A share product provides a template for multiple accounts that are or will be held by the financial institution's clients.
Fixed Deposit Products defines the rules, default settings, and constraints for a financial institution's
fixed deposit offerings (also referred to as term deposits). A fixed deposit product provides a template for multiple fixed deposit accounts for the financial institution's clients.
Recurring Deposit products define the rules, default settings, and constraints for a financial institution's recurring deposit offerings (a type of term deposit with recurring deposits). A recurring deposit product provides a template for multiple recurring deposit accounts for the financial institution's clients.