11 General Rate Maintenance

There are use cases like Third Party Fund Management or POBO-COBO where Virtual Accounts when used also earn interest income. The rate of interest for these Virtual Accounts is set by the corporate itself. There will be a default or General Rate set up that applies to all the Virtual Accounts that have interest income.

Prerequisite

Oracle Banking Virtual Account Management and Oracle Banking Interest and Charges integration is available and the necessary linking of Oracle Banking Virtual Account Management Product to Interest Groups in Oracle Banking Interest and Charges is done

Using this option corporate user can:

• View General Rates
  
• Edit General Rate
  
• Add General Rates