1.3.2.3 Interest Details

This topic describes about the Interest Details stage.

The Interest details can be added for the application in the Enrichment Stage.

Figure 1-34 Interest Details Screen

Description of "Figure 1-34 Interest Details Screen"

For information on the screen fields, refer to the field description table below.

Table 1-27 Interest Details - Field Description

Field	Description
Loan Branch	Select the branch for which the rate code is maintained.
Loan Amount	The loan amount for which the interest details will be maintained.
Value Date	The date on which the loan contract came into effect.
Component Name	Dispalys the specific interest components which are defined.
Rate Type	Select the Interest Rate Type of a product will be displayed.
Interest Period Basis	Select the Interest Period basis. It indicates how the system must consider the tenor basis upon which interest is computed over a schedule or interest period, in respect of the interest component for which the limits are being maintained, which is associated with the selected product.
Billing Notice Period	Select the toggle Billing Notice Period. The number of calendar days before the repayment date, when a Billing Notice has to be generated for the customer as a reminder of the payment.
Waiver	Select the toggle Waiver. The attributes of an interest component that have been defined for a product is applied on a contract involving the product If, for some reason you do not want to apply the interest component for the contract you are processing, you can do so by checking this field The interest is calculated but it is not applied on the contract.
Subrate type	Select the Rate code defined by the system.
Rate Code	Select the Interest Rate which has to be considered for computing.
RateSpread	Select the Rate Spread. The Interest rate spread is the interest rate charged by banks on loans to private sector customers minus the interest rate paid by commercial or similar banks for demand, time, or savings deposits.
All in Rate	Select the All in Rate. The All-in rate is the rate that a financial institution uses in charging customers for accepting bankers acceptances, consisting of the bankers acceptance rate.