Free Microfinance Software – Mifos – Management Information System (MIS) for MFI's

Mifos is an free open source software for Microfinance Institutions developed by Grameen Foundation in association with several IT companies.This MIS software is very versatile and can be customised as per the requirements of the MFI. It is open source and users can build and modify it as per their requirements.

Try it now at the below link !

Interactive Demo Server

For a more interactive experience with Mifos, please go to the demo server to test out a stable running build of mifos. The user name is mifos and the password is testmifos (If the account is locked please try the following: ( mifos2/testmifos, mifos3/testmifos). We encourage you to create your own account if you plan to use the demo server on a regular basis. To create your own account, click on “Admin”; “Define new system user”.
*The demo server reflects the latest functionality currently available in our latest release, Mifos 1.2. To test out the latest in-development code for our Rhino release, please visit our test server.

Mifos 1.2.2

Download Mifos 1.2.2

Release Date: Feb 3, 2009

Product Features

Mifos Capabilities

For more on Mifos functionality please view the Functional Specifications (note the Mifos 1.2 func specs are still coming).

Clients, Groups, and Centers

All features related to the creation and management of these entities and their movement through a state process flow (partial application, pending approval, approved/active, on hold, closed, canceled).

  • Uniqueness check for clients as per govt ID. If gov’t ID doesn’t exist, then uniqueness check on name + birthdate.
  • Loan cycle at client level
  • Support for client photos
  • Move groups & clients to different centers and/or branches
  • Add notes to client, group and center detail pages
  • Charge clients, groups, and centers penalties and one-time and periodic fees
  • Assign group and center officer titles to clients
  • Turn Center hierarchy “off” (See configuration)
  • Support for individual clients outside of groups and centers– New in v1.1!

Loan Products & Loan Accounts

  • Support for group and individual loans
  • Define unlimited number of loan product types
  • Interest calcuations:
    • Flat
    • Declining balance- equal monthly installments (EMI)
    • Declining balance- equal principal installments– New in v1.1!
  • Ability to schedule loan disbursals and repayments independent of meeting schedules– New in v1.1!
  • Loan defaults based on previous loan amounts or cycle– New in v!.1
  • Define grace periods for full loan repayments and grace for principal payments
  • Support for periodic fees, fees deducted at disbursement, one-time fees, and penalty charges
  • Support for early & partial loan repayments
  • Display of Loan repayment schedules and detail loan account activity pages
  • Automatic updation of repayment schedule if client/group’s meeting day changes
  • Support for adjustments
    • Undo loan disbursals– New in v1.1!
    • Redo loan disbursals– New in v1.1!
    • Multiple loan adjustments– New in v1.1!
  • Automatic movement of loan accounts between specific states:
    • from “good standing” to “in arrears” when payments are late
    • from “in arrears” to “good standing” when all outstanding and overdue payments are made
    • to “closed—obligation met” when all loan payments are complete
  • Repay total loan at any point in loan cycle
  • Add notes to loan records
  • Minimal support for loan rescheduling
  • Support for back-dated payments
  • Ability to generate voucher and receipts directly from loan account page– New in v1.1!

Savings Product & Savings Accounts

  • Define an unlimited number of savings products
  • Set-up “Voluntary” or “Mandatory” accounts with specify required deposits for mandatory accounts and “suggested” deposits for voluntary accounts (ie, a suggested, non-binding savings plan)
  • Add notes to savings record
  • Specify the “auto creation” of savings accounts when a client is approved and made active

Surveys and Progress out of poverty tracking

  • Support to capture Progress out of Progres data for India MFIs
  • Ability to create surveys with different question types and attach surveys to clients, groups, centers and savings and loan accounts.

Search & Browse for Clients & Accounts

  • Search for client, group, and center by name or system ID. Includes support for “like” searches (ie, searching for “S” will display all clients with first and last names that start with S.
  • Search for loan or savings account by account ID
  • Browse (“drill down”) by Branch, Loan Officer, Center, and Group


  • Define up to 5 levels of office hierarchy (Branch Office, Regional Office, Sub-Area Office, Area Office, Head Office), to create offices, and to assign offices to appropriate level

System Users, Permissions, and Data Scope

  • Create, modify and delete roles with associated permissions
  • Create system users, assign users to an office and assign roles & permissions to system users
  • Transfer a user to a different office

Setup, Configuration & Localization

  • Mifos localized in English and French and easy ability to localize in other languages (some work required to support double-byte and right-to-left languages)– New in v1.1!
  • Ability to specify all install-time configurations through a simple properties file– New in v1.1
  • User-interface to configure all remaining Mifos configurations– New in v1.1!
  • Rename labels, define look-up options and hide particular fields
  • Turn “centers” on/off, to define whether/not groups can receive loans, whether/not clients can exist outside a group
  • Configure currency and rounding rules (round up/down by how many digits)
  • Specify supported payment types (cash, voucher, checks)
  • Define 10 “additional information” fields for client, group, center, accounts and system users
  • Client rules: client hierarchy (whether/not centers exist), whether/not groups can receive loans, whether/not clients can exist outside of a group
  • Misc: time zone, language, number of minutes before session timeout
  • Checklist definition: create and modify checklists that list “reminders” to system users moving accounts into new states
  • Ability to restrict product mix– New in v1.1!
  • Ability to schedule holidays and have loan, savings and fee schedules automatically updated

Financial Transactions & Accounting Support

  • Support for configuring Mifos with the MFI’s Chart of Accounts and corresponding GL codes
  • Recording of debits/credits against appropriate GL codes
  • Definition of funding sources

Bulk & Batch Processes

  • Bulk-enter collection sheet data
  • Bulk-approve loans, moving them from “pending approval” to “approved”
  • Bulk create loans

Audit trails

  • For clients, groups, centers, loan accounts, system users, and product definition

Login & Security

  • User locked if incorrect password entered 5 times
  • Prompt to change password after first login

Reports– New

  • BIRT reporting system integrated into Mifos
  • 3 reports integrated into Mifos: Collection Sheet Report, Branch Cash Confirmation report, Branch Report
  • Ability to create and upload custom reports into Mifos
  • Ability to create and upload receipt and vouchers available directly from loan account pages
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