Adding A Loan Product On Fineract

Table of contents

• Introduction
• Authentication
• Request
• Response
• Code samples

Introduction

On Fineract [↗] before a loan officer can issue a loan, a loan product must exist in the system. This guide walks you through the POST /loanproducts endpoint, covering every required field and all available optional parameters.

Assumptions:

• You are running Version 1 of Fineract
• You have Fineract running locally via Docker (see How To Install Apache Fineract With Docker [→])
• You are authenticating with the default mifos/password credentials
• You are hitting the default tenant (default)
• The code snippets suppressed SSL certificate warnings (e.g.: the --insecure flag in curl)

Authentication

All requests to the Fineract API require two things: a Fineract-Platform-TenantId header identifying which tenant you are operating on, and an Authorization header using HTTP Basic Auth. For the default setup, the credentials mifos:password encode to bWlmb3M6cGFzc3dvcmQ= in Base64.

✅ Wrap📋
01: Authorization: Basic bWlmb3M6cGFzc3dvcmQ=
02: Fineract-Platform-TenantId: default

Request

URL

✅ Wrap📋
01: POST https://localhost:8443/fineract-provider/api/v1/loanproducts

Required Request Body

✅ Wrap📋
01: {
02:   "name": "Auto Loan",
03:   "shortName": "AL-1",
04:   "currencyCode": "GHC",
05:   "digitsAfterDecimal": 2,
06:   "principal": 100,
07:   "numberOfRepayments": 1,
08:   "locale": "en",
09:   "interestRatePerPeriod": 2,
10:   "interestRateFrequencyType": 2,
11:   "repaymentEvery": 1,
12:   "repaymentFrequencyType": 2,
13:   "amortizationType": 1,
14:   "isInterestRecalculationEnabled": false,
15:   "interestType": 0,
16:   "interestCalculationPeriodType": 1,
17:   "transactionProcessingStrategyCode": "creocore-strategy",
18:   "daysInYearType": 1,
19:   "daysInMonthType": 1,
20:   "loanScheduleType": "CUMULATIVE",
21:   "accountingRule": 1
22: }

Required Parameters Explained

Optional Parameters

Response

✅ Wrap📋
01: 
02: {
03: 
04: "resourceId": 6
05: 
06: }
07: 

The resource ID represents the unique identifier for the loan product.

Code samples

SSL error muted

Default Basic Auth setup mifos/password

Curl

create_loan.sh
✅ Wrap📋
01: 
02: curl  --insecure  --location  'https://localhost:8443/fineract-provider/api/v1/loanproducts'  \
03: 
04: --header  'Accept: application/json, text/plain, */*'  \
05: 
06: --header  'Authorization: Basic bWlmb3M6cGFzc3dvcmQ='  \
07: 
08: --header  'Connection: keep-alive'  \
09: 
10: --header  'Content-Type: application/json'  \
11: 
12: --header  'Fineract-Platform-TenantId: default'  \
13: 
14: --data  '{
15: 
16: "name": "Auto Loan",
17: 
18: "shortName": "AL-1",
19: 
20: "currencyCode": "GHC",
21: 
22: "digitsAfterDecimal": 2,
23: 
24: "principal": 100,
25: 
26: "numberOfRepayments": 1,
27: 
28: "locale": "en",
29: 
30: "interestRatePerPeriod": 2,
31: 
32: "interestRateFrequencyType": 2,
33: 
34: "repaymentEvery": 1,
35: 
36: "repaymentFrequencyType": 2,
37: 
38: "amortizationType": 1,
39: 
40: "isInterestRecalculationEnabled": false,
41: 
42: "interestType": 0,
43: 
44: "interestCalculationPeriodType": 1,
45: 
46: "transactionProcessingStrategyCode": "creocore-strategy",
47: 
48: "daysInYearType": 1,
49: 
50: "daysInMonthType": 1,
51: 
52: "loanScheduleType": "CUMULATIVE",
53: 
54: "accountingRule": 1
55: 
56: }'
57: 

NodeJS

create_loan.js
✅ Wrap📋
01: 
02: process.env.NODE_TLS_REJECT_UNAUTHORIZED = '0';
03: 
04: const  url = 'https://localhost:8443/fineract-provider/api/v1/loanproducts';
05: 
06: const  postData = JSON.stringify({
07: 
08: "name":  "Auto Loan",
09: 
10: "shortName":  "AL-1",
11: 
12: "currencyCode":  "GHC",
13: 
14: "digitsAfterDecimal":  2,
15: 
16: "principal":  100,
17: 
18: "numberOfRepayments":  1,
19: 
20: "locale":  "en",
21: 
22: "interestRatePerPeriod":  2,
23: 
24: "interestRateFrequencyType":  2,
25: 
26: "repaymentEvery":  1,
27: 
28: "repaymentFrequencyType":  2,
29: 
30: "amortizationType":  1,
31: 
32: "isInterestRecalculationEnabled":  false,
33: 
34: "interestType":  0,
35: 
36: "interestCalculationPeriodType":  1,
37: 
38: "transactionProcessingStrategyCode":  "creocore-strategy",
39: 
40: "daysInYearType":  1,
41: 
42: "daysInMonthType":  1,
43: 
44: "loanScheduleType":  "CUMULATIVE",
45: 
46: "accountingRule":  1
47: 
48: });
49: 
50: const  response = await  fetch(url, {
51: 
52: method:  'POST',
53: 
54: headers: {
55: 
56: 'Accept':  'application/json, text/plain, */*',
57: 
58: 'Authorization':  'Basic bWlmb3M6cGFzc3dvcmQ=',
59: 
60: 'Content-Type':  'application/json',
61: 
62: 'Fineract-Platform-TenantId':  'default'
63: 
64: },
65: 
66: body:  postData
67: 
68: });
69: 
70: const  result = await  response.text();
71: 
72: console.log(result);
73: 

PHP

create_loan.php
✅ Wrap📋
01: 
02: <?php
03: 
04: $curl = curl_init();
05: 
06: curl_setopt_array($curl, array(
07: 
08: CURLOPT_URL => 'https://localhost:8443/fineract-provider/api/v1/loanproducts',
09: 
10: CURLOPT_RETURNTRANSFER => true,
11: 
12: CURLOPT_ENCODING => '',
13: 
14: CURLOPT_MAXREDIRS => 10,
15: 
16: CURLOPT_TIMEOUT => 0,
17: 
18: CURLOPT_FOLLOWLOCATION => true,
19: 
20: CURLOPT_HTTP_VERSION => CURL_HTTP_VERSION_1_1,
21: 
22: CURLOPT_CUSTOMREQUEST => 'POST',
23: 
24: CURLOPT_POSTFIELDS =>'{
25: 
26: "name": "Auto Loan",
27: 
28: "shortName": "AL-1",
29: 
30: "currencyCode": "GHC",
31: 
32: "digitsAfterDecimal": 2,
33: 
34: "principal": 100,
35: 
36: "numberOfRepayments": 1,
37: 
38: "locale": "en",
39: 
40: "interestRatePerPeriod": 2,
41: 
42: "interestRateFrequencyType": 2,
43: 
44: "repaymentEvery": 1,
45: 
46: "repaymentFrequencyType": 2,
47: 
48: "amortizationType": 1,
49: 
50: "isInterestRecalculationEnabled": false,
51: 
52: "interestType": 0,
53: 
54: "interestCalculationPeriodType": 1,
55: 
56: "transactionProcessingStrategyCode": "creocore-strategy",
57: 
58: "daysInYearType": 1,
59: 
60: "daysInMonthType": 1,
61: 
62: "loanScheduleType": "CUMULATIVE",
63: 
64: "accountingRule": 1
65: 
66: }',
67: 
68: CURLOPT_HTTPHEADER => array(
69: 
70: 'Accept: application/json, text/plain, */*',
71: 
72: 'Authorization: Basic bWlmb3M6cGFzc3dvcmQ=',
73: 
74: 'Connection: keep-alive',
75: 
76: 'Content-Type: application/json',
77: 
78: 'Fineract-Platform-TenantId: default',
79: 
80: ),
81: 
82: ));
83: 
84: $response = curl_exec($curl);
85: 
86: curl_close($curl);
87: 
88: echo  $response;