The Loan fees feature is found in the setup dropdown

The following actions can be done under the loan fees page;

1. Add a new loan fee

2. Search for a specific loan fee

3. Edit an existing fee.

4. Delete a loan fee

HOW TO ADD A NEW LOAN FEE

1. Click on the loan fee button

2. Fill the loan fee form

Enter the following details:

1. Name: The name of the fee
   
2. Fee Type: Select the fee type, it can either be
   
1. rate - Percentage
   
2. Fixed amount
   
3. Fixed amount per installment
   
4. Upfront principal deduction in percentage
   
5. Upfront principal deduction in amount
   
6. Addition principal in percentage
   
7. Addition principal in amount
   
3. Collection Rule: Select how the fees will be collected
   
1. Upfront payment
   
2. Deducted from disbursement
   
3. Paid with loan installments.
   

The account number and deferred income account are auto generated by the system.

Enter the amount to be charged as the fee ( This can be the fixed amount or the percentage) ***If it Percentage, DON'T enter the % sign just enter the percent, For example instead of 1% enter 1 *** and ensure you selected type as RATE

After filling the details click on the submit button to save the new changes.

HOW TO SEARCH FOR A SPECIFIC LOAN FEE

1. Click on the ‘search here’ button

2. Enter either the name, account, fee type or charge of the loan fee.

3. If a specific loan does not show, you can try and click on refresh and try to search for loan fee again.

HOW TO EDIT AN EXISTING LOAN FEE

1. Click on the pencil icon under the action tab on the existing loan fee.

2. Edit the loan form and save the new settings.

HOW TO DELETE A LOAN FEE

1. Click on the delete icon under the action tab on the existing loan fee.

2. Click on the delete button to confirm the delete action.