Set Up Loan Products

Create products for the loan types that you offer to your loan applicants. For example, if you offer personal loan and home loan, create a product record for each loan type.

Required Editions

Available in: Lightning Experience

Available in: Professional, Enterprise, and Unlimited Editions

User Permissions Needed
To activate picklist values.	Customize Application
To set up products:	Create on Product2

Add the picklist values.
When you create a product record for a loan type, you must specify the product family that the product belongs to. Add the picklist values for the product family.
1. From the object management settings for products, go to Fields & Relationships.
2. In the Quick Find box, enter Product Family, and then select Product Family.
3. In the Picklist Values for Product Family section, click New.
4. Add the picklist values.
  For example, you can add Home Loan, Personal Loan, Auto Loan Two Wheeler, and Auto Loan Four Wheeler as the picklist values.
5. Save your changes.
Create Products.
1. From the App Launcher, find and select Products.
2. Click New and enter the product details.
  For example, for a home loan, enter fixed-rate mortgage as the product name and select home loan as the product family.
3. To activate the product, select Active.
4. To add another product, click Save & New or to finish, click Save.