Navigate to the Maintain Interest Invoice Rates window in your localization responsibility (Interest Invoice > Maintain Rates). When the Lookup Types window appears, choose either Interest Invoice Daily Interest Rates or Interest Invoice Monthly Interest Rates.

In the Maintain Interest Invoice Rates window, enter the appropriate values in the Code, Rate, Description, and Effective From fields. You can optionally enter an Effective To date. Ensure that the Enabled check box is checked, and save your work.

Whenever you want to change the interest rate, navigate back to the Maintain Interest Invoice Rates window, choose Daily or Monthly rates, and query back the interest rate you have just created. You can update the interest rate with the new interest rate.