# 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](https://docs.mifos.org/mifosx/user-manual/for-administrators-mifos-x-platform/administration/products/loan-products) * Deposit Products: * [Savings Products](https://docs.mifos.org/mifosx/user-manual/for-administrators-mifos-x-platform/administration/products/untitled) (current and saving accounts) * [Share products](https://docs.mifos.org/mifosx/user-manual/for-administrators-mifos-x-platform/administration/products/share-products) * Term deposit products * [Fixed Deposit Products](https://docs.mifos.org/mifosx/user-manual/for-administrators-mifos-x-platform/administration/products/fixed-deposit-products) * [Recurring Deposit](https://docs.mifos.org/mifosx/user-manual/for-administrators-mifos-x-platform/administration/products/recurring-deposit) 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](https://docs.mifos.org/mifosx/user-manual/for-administrators-mifos-x-platform/administration/products/charges). Your system administrator will define which users are able to define products, charges and product mix.