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Savings configuration charges

The Loan Performer savings charges feature enables a user to configure a levy on savings withdrawals according to savings withdrawal amounts classes.

Note by default the check box"Set savings withdrawal charges according to withdrawn amount class" is un-ticked. Tick it to be able to enter amounts in the field provided for classes and the charges.

How to configure charges on savings withdrawals

To configure charges on savings withdrawals you go to System Configuration/Savings/Savings Charges and a screen like one below appears:

• Set savings withdraw charges according to withdrawn amount by class: In order to avoid the hustle of every time typing a savings withdraw charge, an organisation can decide to charge its savings clients according to the amount withdrawn.This menu helps in implementing this.

• Tick this menu to make the classes field active.
• Define the amounts to be charged between class ranges.
• This amounts will appear at the withdraw window e.g "5000" charged for wit
•  
• hdrawing an amount between "3,000,000 to 5,000,000" as seen below.
• Setting savings withdraw charges according to withdrawn amount by class can be done by savings products.

• Show additional classes: When this check box is ticked then another class "Class 7" shows up.
• Remove classes:Tick this check box to remove a savings withdrawal classes. The classes will be removed one by one from the latest.

At savings withdraw the system will pick and display the details at configuration as follows:

And the transaction will be reflected in the clients savings ledger card as below:

Related Topics

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