# Products

### About Products

A product is a financial offering by a financial institution to its clients. Products are set up once and are then available to qualifying clients (individuals, groups, and centers).

Financial institutions can set up and configure:

* [Loan Products](/mifosx/user-manual/for-administrators-mifos-x-platform/administration/products/loan-products.md)
* Deposit Products:
  * [Savings Products](/mifosx/user-manual/for-administrators-mifos-x-platform/administration/products/untitled.md) (current and saving accounts)
  * [Share products](/mifosx/user-manual/for-administrators-mifos-x-platform/administration/products/share-products.md)
  * Term deposit products
    * [Fixed Deposit Products](/mifosx/user-manual/for-administrators-mifos-x-platform/administration/products/fixed-deposit-products.md)
    * [Recurring Deposit](/mifosx/user-manual/for-administrators-mifos-x-platform/administration/products/recurring-deposit.md)

Each product may have one or more associated charges (i.e. fees and penalties). These charges need to be defined before they can be associated with a product. To learn about charges see [Charges](/mifosx/user-manual/for-administrators-mifos-x-platform/administration/products/charges.md).

Your system administrator will define which users are able to define products, charges and product mix.<br>


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