10 Special 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. However, there could be instances where for a few select Virtual Accounts a different rate is applicable. This rate is called "Special Rate" and corporate user will be able to select Virtual Accounts one at a time and set the special rates.

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 Special Rates
  • Edit Special Rates
  • Add Special Rates