How to Add a Charge to a Term Deposit Account

Charges (fees and penalties) can be charged to term deposit accounts in the following ways:

  • Charges are inherited from the product definition. A Mifos x user may have the ability to remove one or more of these charges for a term deposit account. When a charge is removed from a term deposit account, other term deposit accounts are not affected.

  • Charges (not yet associated with the term deposit account) can be selected and attached to the term deposit account.

  • One time charges can be added to an active term deposit account.

Charges may be added at the time of term deposit account application, when a term deposit account is Pending Approval, is Approved and is Active. Adding a charge to a term deposit account does not affect the term deposit account's status.

To inherit charges from the product definition

While completing a term deposit account application for a client, keep the charges that appear in the saving account. Complete any fields that do not default such as a date that may be required. Additional charges may also be added. See Term Deposit Account Fields Charges.

To add charges to a term deposit account

When editing a term deposit account, navigate to the Charges section. See Term Deposit Account Fields Charges.

To add miscellaneous (one-time) charges to a term deposit account

When viewing a term deposit account, click More and +Add Charge on the action bar.

  1. Select Charge type from the list.

  2. Complete the fields required for the charge.

  3. Click Submit.

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