This feature is found in the setup dropdown

The following actions can be done in the loan products page;

1. Create a new loan product.

2. Search for a loan product

3. Edit an existing loan product.

4. Delete an existing loan product.

HOW TO CREATE A NEW LOAN PRODUCT

To create a new product click on the ‘new product’ button.

This will lead you to a form to fill in the new loan product details.

To charge fees on the loan product, click on the add button on the fees section. **Kindly note you will be able to add fess after you have saved the product. So you can skip the fees section, save the product then click on edit button to add the fees**

The following explains what each field requires.

1- Enter the name of the product.

2 - Select where the money will be disbursed from, either from cash or bank account. Select Cash Balances if you are disbursing from Paybill

4 - Enter the interest rate to be charged on this loan product.

5 - Select whether the rate would be charged daily, weekly,monthly, yearly or as a fixed fee.

6 - Select the interest calculation method, this could either be flat rate, reducing balance or compound interest.

7 - Select whether the interest fee should be deducted on disbursement or not.

8 - Select when an interest should be recognized, post interest on disbursement will recognize the full interest owed when the loan is issued, while the other one, post interest when earned(accrued)  will recognize an interest amount at the end of each month.

9 - Set the minimum and the maximum amount that can be borrowed.

10 - Set the period limit of the loan, 

11 - set the cycle when the loan will be paid, it could either be daily, weekly, after 30days, monthly on a specific date, monthly on the same date as disbursement or when the loan matures.

12 - Set the grace period for the loan. Grace period is the number of days after the due date an unpaid loan is not charged any penalty. This can be set in days, weeks, months or years.

14 - Select the category of users that can apply for this loan product.

15 - Select whether to activate or deactivate a loan product. 

To save the loan product, click on the submit button as shown below

HOW TO SEARCH FOR A LOAN PRODUCT

1. Click on the ‘search here’ button

2. Enter the name of the loan product.

3. You can filter the search by selecting the category. You click on the select category button.

HOW TO EDIT AN EXISTING LOAN PRODUCT

1. Click on the pencil icon under the actions tab on the loan product.

HOW TO DELETE A LOAN PRODUCT

1. Click on the delete icon under the actions tab on the loan product.

2. Click on the delete product button.