Hi Jyoti,
Sap standard provided the template product . You can use the template product to create a product by changing the attributes as per your requirement.
Steps:
1. Go to transaction code FSPRD1_Y
Give the New product name (E.g. Consumer Loan, Mortgage Loan etc.)
Select the Template Prod. from the drop down.( E.g. _LO_REVO) and select the product version.
2. Click enter . Product Create: Administration screen will open,
specify the time period and description of the product
3. Click enter. Product Create: Used attributes will open. change the attributes as per requirement and click on save.
4. Click on Save. Product will be created.
5. Go to Transaction code FSPRD2_Y. Click on Latest version and press enter. Click on Flag for activation then click activate then click on Save.
Your product is created an ready for use.
Thanks,
Warm Regards,
Anuj Agarwal