Loan products are categories of loans you offer to your borrowers. Each product defines the loan type, amount range, interest rate, and tenor. You can create multiple loan products for different borrower segments. Borrowers can access these products on your web or mobile app. You can also edit or deactivate any loan product from the admin console.
Lenders often create loan products for two main groups: small businesses and individual borrowers. Business loans serve SMEs that need capital to grow or stay afloat. Personal loans help individuals cover emergencies, bills, or lifestyle needs. By tailoring products to each group, you control the scoring model for that market segment. This improves your risk management and loan approval accuracy.
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