How to create a loan product and link it to a category
You can create your own customized loan products by creating the name of the loan, duration and even term of payments.
Once you have created the loan products, you can allocate them to the loan categories you wish the customers to access.
To create a loan product:
Go to Setup
Loan products
Click on the red button written ‘’New Product’’
Key in the product details, i.e Name, interest rates, payment cycle
On the settings, you have a section User Categories where you can specify a group or category of clients to access the product.
If you have not categorized your customers, the default category would be best for all customers to access the product.
N/B; The interest, period limits and payment cycle have to be in sync.
For example you cannot have the interest weekly and payment cycle monthly and period limits in days. All three have to be weekly.
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