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Settings & Administration

How to add fees, penalties, and interest rates

Version 1 · Updated 22 Jun 2026

How to add fees, penalties, and interest rates

1Open Settings → Products → Interest Rate to manage the interest rates your loans can use.
2Click Add new to define a rate — its name, type (fixed or reducing balance) and validity dates.
3Switch to the Fee & Penalties tab to set up fees and late-payment penalties.
How to add fees, penalties, and interest rates

Define interest rates, fees and penalties for your products in CAMS.

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Summary

Set up the fees, penalties, and interest rates that your products charge members.

You define each charge once under Product Setup, then your loan and savings products can use it.

About 6 minutes · 5 steps.

Prerequisites

  • You can sign in to CAMS Admin with an account that can open Settings.
  • The general ledger (GL) code for each fee or penalty, so postings reach the right account.
  • The fee amount or percentage, and the interest rate figures you want to apply.

Step-by-step

  1. Sign in to CAMS Admin. If you are not sure how, see How to sign in and navigate CAMS Admin.
  2. In the left menu, open Settings > Products to reach the Product Setup screen.
  3. Open the Fee & Penalties tab. Here you define each fee and penalty charge. Set its name, the amount or percentage, when it applies, and the GL code it posts to.

Figure 1: The Fee & Penalties tab under Product Setup, where fees and penalty charges are defined

  1. Click Add new to create a charge. To change one later, use the row menu next to it and pick edit. Penalties usually apply to late loan repayments.
  2. Open the Interest Rate tab. Click Add new to define a rate, then save it. These rates feed your loan and savings products.

Figure 2: The Interest Rate tab under Product Setup, where interest rates used by products are configured

Common pitfalls & FAQ

  • Do I set fees on each product or here? Define the charge once on this screen. Your products then pick it up. This keeps every product consistent.
  • My fee did not post to accounting. Check that the charge has a GL code. Without a linked GL code, the posting has nowhere to go in the chart of accounts.
  • What is the difference between a fee and a penalty? A fee is a normal charge, such as a loan application fee. A penalty is a charge for a problem, such as a late repayment.
  • Should I enter an amount or a percentage? Use an amount for a flat charge. Use a percentage when the charge grows with the loan or balance. Pick one per charge.
  • I do not see Settings in the left menu. Your login may not have rights to it. Ask your administrator to grant access.

Also called: charges setup, loan fees, late payment penalty, interest rate config, product charges.