1.3.2.3 Interest Details

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

Figure 1-32 Interest Details Screen

Description of "Figure 1-32 Interest Details Screen"

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

Table 1-24 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	Specific interest components which are defined will be displayed
Rate Type	The Interest Rate Type of a product will be displayed
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	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	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	Can select Rate code defined by the system
Rate Code	The Interest Rate which has to be considered for computing
RateSpread	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	All-in rate is the rate that a financial institution uses in charging customers for accepting bankers acceptances, consisting of the bankers acceptance rate