Loan Products Overview
Define the loan products your branch offers before staff begin originating loans.
Loan products carry the rules that loan officers reuse during loan creation, including amount ranges, pricing, repayment cadence, and default terms.
Purpose
Use the Loan Products area to keep lending rules consistent across the branch.
What belongs in a product
- product name and internal code
- minimum and maximum principal
- default term and allowed term range
- pricing rules such as interest, fees, and insurance
- repayment cadence and grace-period behavior
Before you start
- Confirm the product terms your branch has approved for use.
- Decide on a naming and coding convention before entering multiple products.
- Avoid creating overlapping products with only minor wording differences.
Expected result
Loan officers can select a product during loan creation and start from the same approved rules every time.
Troubleshooting
- If staff keep overriding the same values during loan creation, update the product defaults instead of relying on manual edits.
- If portfolio reporting is fragmented, review the product catalog for duplicate products that should be merged operationally.