1.1.2.3 Interest Details

This topic describes the systematic instructions to Interest Details segment.

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

1. Initiate a Loan Origination and navigate to a specific data segment.
2. From Loan Origination , click Interest Details tab and provide the required details.
   The Interest Details screen displays.

   Figure 1-7 Interest Details Screen

   
   Description of "Figure 1-7 Interest Details Screen"

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

   Table 1-6 Interest Details - Field Description

   Field	Description
   Loan Branch	Displays the branch for which the rate code is maintained.
   Loan Amount	Dispalys the loan amount for which the interest details will be maintained.
   Value Date	Displays the date on which the loan contract came into effect.
   Component Name	Displays the specific interest components which are defined.
   Rate Type	Select the interest rate type of a product.
   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 to enable 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 to enable waiver. Note: 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 user do not want to apply the interest component for the contract user are processing, user can do so by checking this field. The interest is calculated but it is not applied on the contract.
   Sub Rate type	Select the sub rate type.
   Rate Code	Select the interest Rate which has to be considered for computing.
   Rate Spread	Select the rate spread percentage. 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	Displays 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.

3. Click Save & Close, to save and close the details.
4. Click Next, to navigate to the next screen.