1 Interest and Charges Maintenance

This topic provides the information about the various maintenance’s to calculate the Interest in the system.

Interest is computed and applied on accounts with balances. Using the Interest component, system calculates and applies interest on accounts. Setting up the Interest component is a one-time activity.

Once the setup is completed, the system automatically computes and applies interest on all the balance type accounts. Interest is calculated using the interest rules defined. The user can define the interest rules to suit the particular requirements of the bank.

This topic contains the following subtopics:

• Branch Parameters
  This topic provides the information to configure and maintain the branch parameters.
• Period Code
  This topic provides the information to configure and maintain the period code.
• Interest Rule
  This topic provides the information to configure and maintain interest rules.
• Interest Product
  This topic provides the information to configure and maintain interest product maintenance.
• IC Rate Code
  This topic provides the information to configure and maintain IC rate code.
• Rate Input
  This topic provides the information to configure and maintain the rate input.
• Accounting Entries
  This topic provides the information to configure and maintain accounting entries.
• UDE Limits
  This topic provides the information to configure and maintain the UDE limits.
• UDE Value Input
  This topic provides the information to configure and maintain UDE value input.
• Handoff Parameters
  This topic provides the information to configure and maintain the external service parameters.
• Interest History
  This topic provides the information about the interest history for an account of the branch.